The Figure Below Shows the Demand (D) and Supply (S)

question 78

Multiple Choice

The figure below shows the demand (D) and supply (S) curves of cocoa in the U.S.Figure 21.4

-Suppose the official gold value of the Brazilian real changes from 527 reals per ounce to 508 reals per ounce. We can then say that:

• A)the Brazilian real has depreciated in value as a consequence of free market fluctuations.
• B)the Brazilian real has appreciated in value.
• C)gold is now more expensive to purchase in Brazil than it was before.
• D)the Brazilian real has been devalued.
• E)the Brazilian economy is expected to experience rapid inflation.

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