A surplus will cause pressure on the price to fall.

Figure 4-24

Refer to . The per unit burden of the tax on buyers is
a.
P₃ - P₁.
b.
P₃ - P₂.
c.
P₂ - P₁.
d.
Q₂ - Q₁.

The international financial market moved towards equilibrium under the gold standard due to

A) shifts in exchange rates caused by changes in supply and demand for foreign exchange. B) changes in interest rates. C) negotiations among central banks. D) flows of gold among countries.