The existence of a downward- (or backward-) sloping supply curve of foreign exchange is a necessary condition

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“The existence of a downward- (or backward-) sloping supply curve of foreign exchange is a necessary condition for the generation of an unstable equilibrium position in the foreign exchange market.” assess the validity of this statement.
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International Economics

ISBN: 9780078021671

8th Edition

Authors: Dennis Appleyard, Alfred Field

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