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Assuming market-determined exchange rates, use the supply and demand schedules for pounds to analyze the effect...

Assuming market-determined exchange rates, use the supply and demand schedules for pounds to analyze the effect on each exchange rate (dollars per pound) between the U.S. $ and the British pound under each of the following circumstances. Make sure to tell what happened to the value of the dollar and the exchange rate (and use graphs).

Britain's oil production in the North Sea decreases, and exports to the U.S. fall.

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