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 five dollars per pound:

A) there is an excess supply of 400 pounds.
B) there is an excess demand of 400 pounds.
C) there is an excess supply of 400 dollars.
D) there is an excess demand of 400 dollars.
E) the market is in equilibrium.

Correct Answer:

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