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Figure 11.1 illustrates the supply and demand schedules for the Swiss franc. Assume that exchange rates are flexible. Refer to Figure 11.1. Suppose the exchange
Figure 11.1 illustrates the supply and demand schedules for the Swiss franc. Assume that exchange rates are flexible. Refer to Figure 11.1. Suppose the exchange rate is $.70 per franc. At this exchange rate, there is an ____ of francs which leads to a ____ in the dollar price of the franc, a(n) ____ in the quantity of francs supplied, and a(n) ____ in the quantity of francs demanded. Group of answer choices excess demand, rise, increase, decrease excess demand, rise, decrease, increase excess supply, fall, decrease, increase excess supply, fall, increase, decrease
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