In the Table Above, If the Exchange Rate Is Equal

question 29

Multiple Choice

In the table above, if the exchange rate is equal to $1.00 per pound, then there is a ______, and the exchange rate will______.

• A) surplus of pounds, decrease
• B) surplus of pounds, increase
• C) shortage of pounds, decrease
• D) shortage of pounds, increase

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Definitions:

Information Revolution

A period of rapid technological advancements and societal changes marked by the widespread adoption of computers and the internet, significantly altering the way information is created, shared, and consumed.

Urbanization

Movement of increasing numbers of people from rural areas to cities.

Shrinks Cities

The phenomenon where urban areas experience a reduction in population, leading to a surplus of infrastructure and decreased economic activity.

Minimum-Wage Service Jobs

Employment positions that pay the lowest legal allowable wage and are typically found in the service sector, such as in fast food restaurants and retail stores.