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Fixed and Floating Exchange RatesExchange rate ($/)Quantity of euros () demandedQuantity of euros () ...

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Fixed and Floating Exchange RatesExchange rate ($/)Quantity of euros () demandedQuantity of euros () ...

Fixed and Floating Exchange Rates

Exchange rate ($/€)	Quantity of euros (€) demanded	Quantity of euros (€) supplied
1.30	290	400
1.15	370	370
0.80	400	290

Quantities represent millions of euros traded per day.
Refer to the data in the table. Suppose the European Central Bank pegs the euro to the dollar, at one of the exchange rates listed in the table, such that it undervalues the euro. Based on the data in the table, this would generate a ________.

▸ shortage of euros equal to 110 million

▸ surplus of euros equal to 80 million

▸ surplus of euros equal to 400 million

▸ shortage of euros equal to 290 million

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

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