Given the following partially-completed table showing the quantity demanded of euros and the quantity supplied of dollars in exchange for the euros:
$\begin{array} { l c c }
\text { exchange rate } & \text { euros demanded } & \text { dollars supplied } \
\hline\$ 2.00 = € 1 & € 600 & \mathrm { x } \
\$ 1.50 = € 1 & \mathrm { y } & \$ 1,500
\end{array}$
The missing values are __________.

Question

Given the following partially-completed table showing the quantity demanded of euros and the quantity supplied of dollars in exchange for the euros:
$\begin{array} { l c c } 
\text { exchange rate } & \text { euros demanded } & \text { dollars supplied } \
\hline\$ 2.00 = € 1 & € 600 & \mathrm { x } \
\$ 1.50 = € 1 & \mathrm { y } & \$ 1,500
\end{array}$
The missing values are __________.

Quizplus · Accepted Answer

To find the missing values, we must use the equation: Quantity demanded of Euros = Quantity supplied of Dollars
At the exchange rate of $2.00 = €1, the quantity demanded of Euros is €600. This means the quantity supplied of dollars must also be $1,200 (€600 x $2.00 = $1,200).
At the exchange rate of $1.50 = €1, the quantity supplied of dollars is $1,500. This means the quantity demanded of Euros must also be €1,000 ($1,500 / $1.50 = €1,000).
Therefore, the missing values are x = $1,200 and y = €1,000, which is choice B.

Given the Following Partially-Completed Table Showing the Quantity Demanded of Euros