Answer:
The answer is 8.808.
Explanation:
Because you need to subtract 10 minus the 1.192 and its suppose to give you 8.808.
Indian merchants and industrialists support the civil disobedience movement because they wanted to import, make a profit, and have a conversion rate for rupees.
<h3>What is civil disobedience moment?</h3>
Civil disobedience moment means when a person wants to oppose something but in a peaceful manner.
The merchants and the industrialists wanted protection against the import that they were doing. The industrialists and the businesses wanted to earn more profit from what they made after World War I.
They also wanted that the government may allow them to establish some major industries. They also wanted to have a rate at which they can exchange rupees.
Learn more about civil disobedience, here
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The economy operates according to the law of supply and demand for goods and services. According to this theory, the interaction between supply and demand for a good or service fits and the vector of adjustment is price.
If the price is high, there is more supply than demand. If the price is low, there is more demand than supply. If demand increases, price increases and supply increases. If demand falls, the price falls. That is, the price makes the interaction. There will be a moment where the quantity offered is exactly equal to the quantity demanded, at which point the price practiced is the equilibrium price.
So if an economy is in equilibrium at a time and then the price charged is higher than the equilibrium price, it means that demand has gotten higher than supply.
<u>However, none of the alternatives would explain why a price is charged above the equilibrium price.</u> <u>The answer is the reverse of what is written in alternative (A)</u>. The truth is this: As the quantity demanded rises, the price rises above the equilibrium price. <u>This is the answer</u>.
The alternative (B) is true, although it does not answer the question of the problem. If prices rise, demand falls. This is because the high price discourages consumption.
BTW, I'm an economist and I'm sure.
Answer:
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