The Figure Given Below Depicts the Equilibrium in the Foreign

question 106

Multiple Choice

The figure given below depicts the equilibrium in the foreign exchange market.
Figure 13.1

-Refer to Figure 13.1. If the exchange rate is fixed at E₂ but the free market equilibrium rate is E₁ then:

• A) there is a shortage of British pounds at E₁.
• B) no intervention is necessary to achieve the exchange rate E₁.
• C) there is a permanent surplus of U.S. dollars at E₁.
• D) there is a permanent surplus of U.S. dollars at E₂.
• E) there is a permanent shortage of U.S. dollars at E₃.

Identify differences between folkways and mores in cultures.

Describe the stages of culture shock.

Recognize the diversity of languages in the world and their significance.

Compare Canadian and American cultural attributes.

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Definitions:

Picket Lines

A form of protest or demonstration by workers, often during a strike, where they line up outside their place of employment to dissuade others from entering.

Duty of Fair Representation

The legal obligation of a union to represent all members fairly, without bias or discrimination.

Collective Bargaining

The process in which working people, through their unions, negotiate contracts with their employers to determine their terms of employment.

Arbitrating

The process of settling a dispute through an impartial third party, whose decision is usually binding.