The Figure Given Below Depicts the Foreign Exchange Market for British

question 32

Multiple Choice

The figure given below depicts the foreign exchange market for British pounds traded for U.S. dollars.Figure 22.2

-Refer to Figure 22.2. At the initial equilibrium point, with demand curve D and supply curve S₁:

• A)the price of dollar per British pound is $1.50 and the quantity of British pounds being traded is 225.
• B)the price of dollar per British pound is $1.60 and the quantity of British pounds being traded is 225.
• C)the price of dollar per British pound is $1.60 and the quantity of British pounds being traded is 300.
• D)the price of dollar per British pound is $1.75 and the quantity of British pounds being traded is 350.
• E)the price of dollar per British pound is $1.75 and the quantity of British pounds being traded is 300.

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Definitions:

Conscience

The internal aspect of an individual that reflects on and judges the morality of that individual's actions.

Superego

The part of the personality in Freudian psychoanalytic theory that represents internalized societal standards of right and wrong.

Disapproved

The state of being opposed or objected to, often as a result of not meeting certain standards or expectations.

Parents

Biological, adoptive, or caretaking individuals who have the primary role in raising children.