When the economy is in a recessionary gap, the labor market is experiencing a surplus

If the current exchange rate is 0.65 British pounds per dollar, what is the dollar price of one British pound? If the exchange rate changes to 0.70 British pounds per dollar, what is the new dollar value of one British pound?

What will be an ideal response?

Which of the following groups gain from international trade?

i. producers of exported goods ii. domestic consumers of imported goods iii. workers in exporting firms A) i only B) ii only C) iii only D) i and iii E) i, ii, and iii