If, in a system of fixed exchange rates, the value of the Canadian dollar, as measured in British pounds, is above the equilibrium level, which of the following would happen?
Multiple Choice:
Canada will have a balance of trade surplus.
a. There will be an inflow of foreign currencies into Canada
b. The Canadian dollar will depreciate
c. There will be a shortage of foreign currencies in Canada
d. The Bank of Canada will be forced to ration Canadian dollars to foreign importers