When the Price of Foreign Currency (I

question 153

Multiple Choice

When the price of foreign currency (i.e., the exchange rate) is below the equilibrium level,

• A) an excess demand for that currency exists in the foreign exchange market.
• B) an excess supply of that currency exists in the foreign exchange market.
• C) the demand for foreign exchange shifts outward to the right.
• D) the demand for foreign exchange shifts backward to the left.

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