Exhibit 15-6 Dollars Per British Pound -In Exhibit 15-6, When the Exchange Rate Is 1 Dollar

Exhibit 15-6 Dollars per British pound $$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Quantity } \\\text { Demanded }\end{array} & \begin{array} { c } \text { Dollars } \\\text { per P ound }\end{array} & \begin{array} { c } \text { Quantity } \\\text { Supplied }\end{array} \\\hline 200 & 5 & 600 \\240 & 4 & 480 \\300 & 3 & 410 \\360 & 2 & 360 \\390 & 1 & 330 \\\hline\end{array}$$
-In Exhibit 15-6, when the exchange rate is 1 dollar per pound,

A) the market is in equilibrium.
B) there is a surplus of 30 pounds.
C) there is a surplus of 60 pounds.
D) there is a shortage of 30 pounds.
E) there is a shortage of 60 pounds.

Correct Answer:

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