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Question
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
Answer
This answer is hidden. It contains 1 characters.
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