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susu susu
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A year ago
Fixed and Floating Exchange Rates


Exchange rate ($/€)Quantity of            euros (€) demandedQuantity of           euros (€) supplied
1.40​300​440​
1.15​370​370​
0.90​440​300​
Quantities represent millions of euros traded per day.
Refer to the data in the table. The equilibrium exchange rate is $1.15/euro. Suppose the European Central Bank pegs its currency at $1.40/euro. At the pegged exchange rate, there is a  ________.

▸ shortage of euros equal to 300 million

▸ shortage of euros equal to 70 million

▸ surplus of euros equal to 440 million

▸ surplus of euros equal to 140 million
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
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doublekuddoublekud
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