Multiple Choice
If the equilibrium exchange rate between U.S.dollars and Japanese yen is $0.01 = 1 yen but currently the exchange rate is $0.0089 = 1 yen,then a __________ exists.
A) shortage of dollars
B) surplus of dollars
C) surplus of yen
D) shortage of yen
E) b and d
Correct Answer:
Verified
Correct Answer:
Verified
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