The figure given below depicts the foreign exchange market for British pounds traded for U.S. dollars.Figure 22.2

-A downward-sloping demand curve for Korean won in terms of Canadian dollars indicates that the higher the dollar price of Korean won, the more won will be demanded.

Question

The figure given below depicts the foreign exchange market for British pounds traded for U.S. dollars.Figure 22.2
 
-A downward-sloping demand curve for Korean won in terms of Canadian dollars indicates that the higher the dollar price of Korean won, the more won will be demanded.

Quizplus · Accepted Answer

A downward-sloping demand curve actually indicates that the higher the dollar price of Korean won, the less won will be demanded, as it shows a negative relationship between price and quantity demanded.

The Figure Given Below Depicts the Foreign Exchange Market for British