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-In the Above Figure, Suppose the Value of the European

question 281

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-In the above figure, suppose the value of the European euro is P<sub>1</sub> and U.S. demand for French wine declines. The effect on the franc can be shown by A) an increase in the value of the euro to P<sub>2</sub>. B) the excess demand of euro equal to Q<sub>3</sub> - Q<sub>1</sub>. C) the decrease in the value of the euro to P<sub>0</sub>. D) a shift in the demand for euros from D<sub>1</sub> to D<sub>0</sub>, but no change in the value of the euro.
-In the above figure, suppose the value of the European euro is P1 and U.S. demand for French wine declines. The effect on the franc can be shown by

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