The equilibrium exchange rate of pounds is $1.39. At an exchange rate of $1.41 per pound: Question 17 options: U. S. demand for pounds would be equal to the supply of pounds for sale and there would be a shortage of pounds in the foreign exchange market. U. S. demand for pounds would be less than the supply of pounds for sale and there would be a surplus of pounds in the foreign exchange market. U. S. demand for pounds would be less than the supply of pounds for sale and there would be a shortage of pounds in the foreign exchange market. U. S. demand for pounds would exceed the supply of pounds for sale and there would be a surplus of pounds in the foreign exchange market. U. S. demand for pounds would exceed the supply of pounds for sale and there would be a shortage of pounds in the foreign exchange market.