Narrbegin Exhibit 18 -In Exhibit 18

Narrbegin Exhibit 18.4 Dollars per British pound
$$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Quantity } \\\text { demanded }\end{array} & \begin{array} { c } \text { Dollars } \\\text { per pound }\end{array} & \begin{array} { c } \text { Quantity } \\\text { supplied }\end{array} \\\hline 200 & 5 & 600 \\\hline 240 & 4 & 480 \\\hline 300 & 3 & 410 \\\hline 360 & 2 & 360 \\\hline 390 & 1 & 330 \\\hline\end{array}$$
-In Exhibit 18.4, when the exchange rate is one 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 60 pounds.

Correct Answer:

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