Use the Graph Below to Answer Questions 9 - 12

question 32

Multiple Choice

Use the graph below to answer questions 9 - 12.
Figure 1.1
-Refer to Figure 1.1.Suppose that the market for British pound is initially in equilibrium at point A with the exchange rate $2.00 per pound.When the demand curve shifts to D₂,the pound ___________ and the quantities of pound traded in the market __________.

• A) appreciates; increases
• B) appreciates; decreases
• C) depreciates; increases
• D) depreciates, decreases

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Definitions:

Amount in Controversy

The monetary value of the claim or dispute that is at stake in a legal proceeding.

Conciliation

An alternative dispute resolution process where a neutral third party helps the disputing parties reach a voluntary, negotiated resolution.

Nonbinding

An agreement or contract that does not legally oblige the parties to comply with its terms.

Informal Process

A procedure or method that is not formalized or structured by official rules, often used in resolving disputes or making decisions.