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Suppose That the Exchange Rate Between British Pounds and U

Question 34

Multiple Choice

Suppose that the exchange rate between British pounds and U.S. dollars is originally $2.50 per pound. If it then changes to $3 for 1 pound, imports of British goods into the U.S. tend to:


A) ​rise.
B) ​fall.
C) ​stay the same.
D) ​change in an indeterminate direction.

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