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xiaily xiaily
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A year ago
Fixed and Floating Exchange Rates


Exchange rate ($/€)Quantity of            euros (€) demandedQuantity of           euros (€) supplied
1.30​310​440​
1.00​330​330​
0.85​440​310​
Quantities represent millions of euros traded per day.
Refer to the data in the table. The equilibrium exchange rate is $1.00/euro. Suppose the European Central Bank pegs its currency at $0.85/euro. At the pegged exchange rate, there is a  ________.

▸ shortage of euros equal to 130 million

▸ surplus of euros equal to 20 million

▸ surplus of euros equal to 440 million

▸ shortage of euros equal to 310 million
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
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voltayrevoltayre
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A year ago
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