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Answer to Question #91917 in Macroeconomics for BELLA

Question #91917
draw a demand and supply curve for British pounds (on the vertical axis plot rand per British pound)
1
Expert's answer
2019-07-24T16:00:35-0400

A demand curve for British pounds is downward-sloping, and supply curve for British pounds is upward sloping. Both curves intersect in equilibrium point, where market equilibrium exchange rate and quantity can be found.



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