If the price of the Brazilian real is 60 cents and a U.S. resident purchases a Brazilian-manufactured item for 60,000 real, there will be
A) a quantity demanded of 60,000 real and a quantity supplied of $60,000.
B) a quantity demanded of 60,000 real and a quantity supplied of $36,000.
C) a quantity demanded of 60,000 real, but we cannot determine the effect in the market for dollars.
D) a quantity supplied of 60,000 real and a quantity demanded of 60,000 yen.
Correct Answer:
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