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b. On your graph, indicate a fixed exchange rate set below the equilibrium exchange rate. Does the fixed exchange rate lead to a surplus or

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b. On your graph, indicate a fixed exchange rate set below the equilibrium exchange rate. Does the fixed exchange rate lead to a surplus or shortage of U.S. dollars? Explain and show the amount of the surplus/shortage on your S Yuan/US$ e Quantity of US$ (1 point) The fixed exchange rate level is depicted below the equilibrium exchange rate. (1 point) Shortage (1 point) The quantity demanded exceeds the quantity supplied at the higher fixed exchange rate. (1 point) The shortage is labeled as the horizontal distance between the supply and demand curves at the fixed exchange rate

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