A persistent surplus of pounds at a given fixed exchange rate (in dollars per pound)is evidence that the pound is ________ versus the dollar.This surplus can be reduced or eliminated through a ________ of the pound.

Question

Quizplus · Accepted Answer

A persistent surplus of pounds at a given fixed exchange rate (in dollars per pound) is evidence that the pound is overvalued versus the dollar. This surplus can be reduced or eliminated through a devaluation of the pound.

A Persistent Surplus of Pounds at a Given Fixed Exchange