Assume that the fixed exchange rate system of 100 pesos = 1 dollar is above the equilibrium exchange rate of 90 pesos= 1 dollar in a flexible exchange rate system. Then the dollar would be
a. undervalued and the peso would be overvalued.
b. overvalued and the peso would be undervalued.
c. revalued.
d. depreciated and the peso would be appreciated.
Question 2
What did the Proclamation of 1763 and the Quebec Act of 1774 represent?
(a) A continuation of earlier British land policies, but these were no longer workable or acceptable
to the colonists
(b) A temporary change in British land policies, but the change was not workable or acceptable
to the colonists
(c) A permanent change of earlier British land policies that was not acceptable to the colonists, who wanted a continuation of the old policies
(d) The Proclamation was more of a temporary change, but the Quebec Act represented a permanent change of earlier policy, neither of which was acceptable to the colonists
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