If in a System of Fixed Exchange Rates the Dollar

question 117

Multiple Choice

If in a system of fixed exchange rates the dollar price of euros is above the market equilibrium level:

• A) gold will flow from the United States to Europe.
• B) there will be a surplus of euros.
• C) the U.S.government will have to ration euros to U.S.importers.
• D) there will be a shortage of euros.

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