Question: 1. With reference to Figure: (a) what is behind the US demand for pounds? (b) Why is the US demand curve for pounds (D )

1. With reference to Figure: (a) what is behind the US

1. With reference to Figure: (a) what is behind the US demand for pounds? (b) Why is the US demand curve for pounds (D ) downward sloping? (e) What is behind the US supply of pounds? (d) Why is the US supply curve for pounds (S ) upward sloping? (e) Why is the equilibrium exchange rate US $ 2.00 = 1?

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