Use the following to answer questions:
The Republic of Gizmovia wants to maintain the exchange rate of its currency,the gizmo,at $0.50,but the current exchange rate for the gizmo is $0.40.
-(Scenario: Gizmovia) Refer to Scenario: Gizmovia.At the target rate of $0.50:
A) the quantity of gizmos demanded equals the quantity supplied.
B) there is a surplus of gizmos.
C) there is a shortage of gizmos.
D) the quantity of gizmos demanded is greater than the quantity supplied.
Correct Answer:
Verified
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