If imports = 500 billion euros, exports = 700 billion euros, purchases of domestic assets by foreign residents = 600 billion euros, and purchases of foreign assets by domestic residents = 800 billion euros, what is the quantity of euros demanded in the market for foreign-currency exchange?
a. 1,100 billion euros
b. 600 billion euros
c. 500 billion euros
d. 200 billion euros
d
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Which of the following examples correctly identifies preference reversals?
A) Alice starts using public transport when the price of gasoline increases. B) Sarah's consumption of coffee increases substantially when the price of tea increases. C) Terry decides on Monday that he would join music classes from Thursday, but refuses to do so on Thursday. D) The extra utility that Tim derives from consuming additional units of ice cream decreases as he consumes more ice cream.
Supermarkets will frequently not carry the products of food processors unless the processors pay fees to the supermarkets because
A) supermarkets are cartels. B) supermarkets often dominate the geographic areas in which they sell. C) supermarkets stand between the food processors and the ultimate consumers. D) supermarket shelves are scarce goods. E) supermarkets typically have more bargaining power than food processors.