The graph illustrates the market for British pounds, the currency of the United Kingdom. As the number of buyers of pounds increases and the number of sellers of pounds increases, the equilibrium price of a pound
A) will fall
B) will rise.
C) will remain the same.
D) might rise, fall, or remain the same depending on whether the effect on buyers is larger than, less than, or the same as the effect on sellers.
E) None of the above answers is correct.
D
Economics
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A) a medium of exchange B) a means of payment C) a unit of account D) a measure of quality
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If a firm faces a horizontal demand curve, marginal revenue
a. is constant regardless of how much output the firm produces b. decreases as the firm produces more output c. increases as the firm produces more output d. decreases if the firm produces less output e. is less than price at most possible output levels
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