If the U.S. interest rate falls while the British interest rate remains constant, which of the following will happen in the market for pounds?
a. A rightward shift of the demand curve, a leftward shift of the supply curve, and an appreciation of the pound
b. A leftward shift of the demand curve, a rightward shift of the supply curve, and an appreciation of the pound
c. A leftward shift of the demand curve, a leftward shift of the supply curve, and a depreciation of the pound
d. A rightward shift of the demand curve, a rightward shift of the supply curve, and an appreciation of the pound
e. A leftward shift of the demand curve, a rightward shift of the supply curve, and a depreciation of the pound.
A
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a. At MR= MC b. At MR>MC c. At P=MR d. At MR=0
Over the long run, real earnings per worker can increase only at about the same rate as the economy's rate of growth of:
A. total output. B. stock of capital. C. output per worker. D. international trade.