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Answer to Question #92039 in Macroeconomics for Majika EmJay
Question #92039
Draw a demand and supply curve for British pounds(on the vertical axis plot rand per British pound).
Expert's answer
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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