The Following Two Figures Depict the Demand and Supply of U.S

question 126

Multiple Choice

The following two figures depict the demand and supply of U.S. dollars and the demand and supply of British pounds in the foreign currency exchange market. Use these figures to answer the questions that follow.

-Assume that the same event caused demand for U.S.dollars to decrease and demand for British pounds to increase and that both of these graphs describe that event.Approximately what is Y₁?

• A) $0.50
• B) $0.71
• C) $0.83
• D) $1.20
• E) $1.40

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