Problem
In the diagram, sketch demand and supply curves to represent the market for exchanging British pounds for U.S. dollars to illustrate an equilibrium exchange rate of $1.50 per pound for a volume of exchange of 500 million pounds. Then show how the exchange rate could increase to $1.80 with an increase in volume to 600 million pounds.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.