Economics 0455 · IGCSE · Foreign exchange rates

Foreign exchange rates — practice question

At present, the US trades oil with the UK. If newly discovered oil and gas reserves in the US reduce its oil imports and raise its oil exports. Starting from the initial equilibrium at X, which letter shows the new equilibrium position for the US exchange rate?

  • AA
  • BB
  • CC
  • DD

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI