For many years, the only currency that oil-producing countries would accept for their oil was the United States dollar. What would happen to the value of the dollar if the demand for oil were to increase?

Question

Nothing, since the demand for oil cannot increase.
The value of the dollar would increase.
The value of the dollar would not change.
The value of the dollar would go down.**

Answer 1

SUE AND REED HELP

Answer 2

I think you are wrong. If there is more demand for dollars (due to increased demand for oil, paid for in dollars), the value of the dollar will increase.

http://www.investopedia.com/ask/answers/forex/how-forex-exchange-rates-set.asp

Answer 3

I agree, Reed.