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-Refer to Exhibit 35-4

Question 119

Multiple Choice

-Refer to Exhibit 35-4.Under a fixed exchange rate system,at the exchange rate of E<sub>3</sub>,the dollar is __________ and there is a __________. A) overvalued; surplus of dollars B) undervalued; shortage of pesos C) overvalued; shortage of dollars D) undervalued; surplus of pesos
-Refer to Exhibit 35-4.Under a fixed exchange rate system,at the exchange rate of E3,the dollar is __________ and there is a __________.


A) overvalued; surplus of dollars
B) undervalued; shortage of pesos
C) overvalued; shortage of dollars
D) undervalued; surplus of pesos

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