Quantity Dollars Quantity of Pounds per of Pounds Supplied Pound Demanded 1,000 2.00 200 800 1.80 400 600 1.60 600 400 1.40 800 200 1.20 1,000 1) Referring to Table 1 above, please answer the following: a. The equilibrium exchange rate between the $ and £ lies at the intersection of and b. The equilibrium exchange rate: $_ c. At the exchange rate of $1.40 per £, there is an per £ in the price of in the quantity of £ demanded. in the price of in the quantity of £ demanded. for £. This imbalance causes the £, which leads to_in the quantity of £ supplied and, d. At the exchange rate of $1.80 per £, there is an for £. This imbalance causes in the quantity of £ supplied and. the £, which leads to
Quantity Dollars Quantity of Pounds per of Pounds Supplied Pound Demanded 1,000 2.00 200 800 1.80 400 600 1.60 600 400 1.40 800 200 1.20 1,000 1) Referring to Table 1 above, please answer the following: a. The equilibrium exchange rate between the $ and £ lies at the intersection of and b. The equilibrium exchange rate: $_ c. At the exchange rate of $1.40 per £, there is an per £ in the price of in the quantity of £ demanded. in the price of in the quantity of £ demanded. for £. This imbalance causes the £, which leads to_in the quantity of £ supplied and, d. At the exchange rate of $1.80 per £, there is an for £. This imbalance causes in the quantity of £ supplied and. the £, which leads to
Chapter1: Making Economics Decisions
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Transcribed Image Text:Table 1. Supply and Demand of British Pounds (£)
Quantity
Dollars
Quantity
of Pounds
per
of Pounds
Supplied
Pound
Demanded
1,000
2.00
200
800
1.80
400
600
1.60
600
400
1.40
800
200
1.20
1,000
1) Referring to Table 1 above, please answer the following:
a. The equilibrium exchange rate between the $ and £ lies at the intersection of
and
b. The equilibrium exchange rate: $
At the exchange rate of $1.40 per £, there is an
the £, which leads to_ in the quantity of £ supplied and
per £
for £. This imbalance causes in the price of
с.
in the quantity of £ demanded.
d. At the exchange rate of $1.80 per £, there is an.
for £. This imbalance causes
in the price of
the £, which leads to
in the quantity of £ supplied and
in the quantity of £ demanded.
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