Refer to Figure 11.1. Suppose the exchange rate is $.30 per franc. At this exchange rate, there is an ____ of francs, which leads to a ____ in the dollar price of the franc, a(n) ____ in the quantity of francs supplied, and a(n) ____ in the quantity of francs demanded.
a. excess demand, rise, increase, decrease
b. excess demand, rise, decrease, increase
c. excess supply, fall, decrease, increase
d. excess supply, fall, increase, decrease
a. excess demand, rise, increase, decrease
Business
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