Multiple Choice
In October 2008, Iceland's central bank increased its lending rate to 18% in an "effort to prop up the country's frozen current and markets." (www.nytimes.com, October, 29, 2008) As a result, the ________ curve for Icelandic krona shifted ________, holding all else the same.
A) supply; rightward
B) demand; rightward
C) demand; leftward
D) A and C are both correct.
Correct Answer:
Verified
Correct Answer:
Verified
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