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

question 66

Multiple Choice

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

-Which of the following had resulted from the Smithsonian agreement of 1971?

• A)Devaluation of the U.S. dollar
• B)Dissolution of a fixed exchange rate regime
• C)Appreciation of the U.S. dollar
• D)Establishment of an equilibrium exchange rate
• E)Laissez-faire in the foreign exchange market

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