Figure 30-10 -Refer to Figure 30-10. Under the Bretton Woods System of Woods

question 252

Multiple Choice

Figure 30-10
-Refer to Figure 30-10. Under the Bretton Woods System of exchange rates, if the par exchange rate was $4 per pound in the figure above, then which of the following is true?

• A) The Bank of England would have to buy 0.7 million pounds per day with dollars.
• B) There is a shortage of pounds equal to 0.7 million.
• C) The Bank of England would have to sell 0.7 million pounds per day in exchange for dollars.
• D) The par exchange rate is below the equilibrium rate, causing a shortage of domestic currency.

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Annual Salary

The total amount of money a person earns from their job in a year, often expressed as a pre-tax figure or before deductions.

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