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A Persistent Surplus of Pounds at a Given Fixed Exchange

Question 189

Multiple Choice

A persistent surplus of pounds at a given fixed exchange rate (in dollars per pound) is evidence that the pound is ________ versus the dollar.This surplus can be reduced or eliminated through a ________ of the pound.


A) undervalued; devaluation
B) undervalued; revaluation
C) overvalued; revaluation
D) overvalued; devaluation

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