Refer to the information provided in Figure 34.4 below to answer the question(s) that follow.
Figure 34.4Refer to Figure 34.4. The demand and supply of pounds are D2 and S2. If the demand shifts to D1 and supply remains unchanged at S2
A. the dollar depreciates and the equilibrium quantity of pounds decreases.
B. the dollar appreciates and the equilibrium quantity of pounds decreases.
C. the dollar depreciates and the equilibrium quantity of pounds increases.
D. the dollar appreciates and the equilibrium quantity of pounds increases.
Answer: C
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a. True b. False Indicate whether the statement is true or false
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What will be an ideal response?