If the exchange rate changes from $1.70= 1 pound to $1.68 = 1 pound, what does...

 

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If the exchange rate changes from $1.70= 1 pound to $1.68 = 1 pound, what does this mean for the dollar? For the pound? What if the exchange rate changes from $1.70 = 1 pound to $1.72 = 1 pound? Supply of and Demand for British Pounds Quantity of Pounds Supplied 50 40 30 20 10 Dollars per Pound $2.50 2.00 1.50 1.00 0.50 Quantity of Pounds Demanded 10 20 30 40 50 If the exchange rate changes from $1.70= 1 pound to $1.68 = 1 pound, what does this mean for the dollar? For the pound? What if the exchange rate changes from $1.70 = 1 pound to $1.72 = 1 pound? Supply of and Demand for British Pounds Quantity of Pounds Supplied 50 40 30 20 10 Dollars per Pound $2.50 2.00 1.50 1.00 0.50 Quantity of Pounds Demanded 10 20 30 40 50

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