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Author Question: The Bretton Woods SystemExchange rate ($/)Quantity of pounds () demandedQuantity of pounds () ... (Read 61 times)

kms5229

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The Bretton Woods System


Exchange rate ($/£)Quantity of pounds     (£) demandedQuantity of pounds     (£) supplied
3.40​4.30​7.10​
2.00​5.40​5.40​
1.20​7.10​4.30​

Refer to the data in the table, which represents millions of British pounds traded per day. Under the Bretton Woods system of exchange rates, if the par exchange rate was $3.40 per pound, then  which of the following is true?
◦ The Bank of England would have to buy 2.8 million pounds per day with dollars.
◦ The Bank of England would have to sell 1.1 million pounds per day for dollars.
◦ There is a shortage of pounds equal to 2.8 million.
◦ The Bank of England would have to sell 2.8 million pounds per day for dollars.


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Marked as best answer by kms5229 on Nov 23, 2022

Sophia0717

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kms5229

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Reply 2 on: Nov 23, 2022
Wow, this really help


FergA

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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