In a Competitive Foreign-Exchange Market Between the Canadian Dollar and the British

In a competitive foreign-exchange market between the Canadian dollar and the British pound,a price of pounds (in terms of dollars) below the free-market equilibrium would

A) result in the quantity of pounds supplied being greater than the quantity demanded.
B) indicate that all people who wish to purchase pounds will be able to do so at the current exchange rate.
C) lead to an appreciation of the dollar.
D) result in a sustained shortage of pounds.
E) lead to a depreciation of the dollar.