In a Competitive Foreign-Exchange Market Between the Dollar and the British

question 144

Multiple Choice

In a competitive foreign-exchange market between the dollar and the British pound,a price of pounds (in terms of dollars) above the free-market equilibrium would

• A)result in the quantity of pounds demanded being greater than the quantity supplied.
• B)indicate that some people who wish to purchase pounds will not be able to do so at the current exchange rate.
• C)lead to an appreciation of the dollar.
• D)result in the quantity of dollars supplied being greater than the quantity demanded.
• E)lead to a depreciation of the dollar.

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Definitions:

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