consider the market for the british pound sterling (gbp). note that although the united kingdom (great britain) is an official member of the european union, it has chosen not to adopt the euro as its official currency. for each of the following, determine whether the situation described is part of the supply, demand, or neither side in the foreign exchange market for gbp. a. john and adam are british economists who are going to washington, d.c. for an economics conference. in the foreign exchange market for gbp, john and adam are part of (click to select) . b. an american pharmaceutical firm buys a smaller competitor based in london. in the foreign exchange market for gbp, the american pharmaceutical firm is part of (click to select) . c. louise, who lives in france, is going on a vacation to germany. in the foreign exchange market for gbp, louise is part of (click to select) . d. raj, who moved to great britain from india to work as an engineer, sends some of his paycheck each month to his parents in india. in the foreign exchange market for gbp, raj is part of (click to select) . e. an economics class from the united states is traveling to great britain as part of a study-away program. in the foreign exchange market for gbp, these students are part of (click to select) .

A) British economists John and Adam are traveling to Washington, D.C. for an economics conference. John and Adam are members of Supply in the GBP foreign exchange market since they will sell GBP in exchange for attending the conference.

B) A smaller London-based rival is acquired by an American pharmaceutical company. The American pharmaceutical company is a member of Demand in the GBP foreign exchange market because it is bringing a foreign currency to London to buy an asset.

C) Louise, a French citizen, is traveling to Germany for a vacation. Louise is not a part of either side in the GBP foreign exchange market because their activity has nothing to do with GBP.

D) Raj, an engineer who relocated from India to the United Kingdom to work, pays a portion of his monthly salary to his parents back home. Kamran is a member of Supply in the GBP foreign exchange market since he sells GBP when converting it to Rupee.

E) As part of a study-abroad program, an economics class from the United States is visiting Great Britain. These students are part of Demand in the GBP foreign exchange market since he is willing to pay for British educational services.

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