Table 11.2.Supply and Demand of British Pounds

-Refer to Table 11.2.The equilibrium exchange rate equals:
A) $1.20 per pound
B) $1.40 per pound
C) $1.60 per pound
D) $1.80 per pound

Question

Table 11.2.Supply and Demand of British Pounds
 
-Refer to Table 11.2.The equilibrium exchange rate equals:
A) $1.20 per pound 
B) $1.40 per pound 
C) $1.60 per pound 
D) $1.80 per pound

Quizplus · Accepted Answer

The equilibrium exchange rate is determined where the quantity of pounds demanded equals the quantity of pounds supplied. Based on the options provided, $1.60 per pound is the correct equilibrium rate.