The Figure Below Shows the Demand (D) and Supply (S)

Multiple Choice

The figure below shows the demand (D) and supply (S) curves of cocoa in the U.S.Figure 21.4

-Which of the following had resulted from the Smithsonian agreement of 1971?

A) Devaluation of the U.S. dollar
B) Dissolution of a fixed exchange rate regime
C) Appreciation of the U.S. dollar
D) Establishment of an equilibrium exchange rate
E) Laissez-faire in the foreign exchange market