Which of the following statements accurately describes the situation shown?
a. The demand curve for euros shifts from D1 to D2 due to increased demand for euros.
b. The demand curve for dollars shifts from D1 to D2 due to increased demand for dollars.
c. Increased demand for euros shifts the demand curve for euros from D2 to D1.
d. Decreased demand for euros shifts the demand curve for euros from D1 to D2.
a. The demand curve for euros shifts from D1 to D2 due to increased demand for euros.
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Suppose a person calculates her permanent income by adaptive expectations. Last year's permanent income was 38,000, this year's actual income is 41,000, j = 0.30, and k = 0.86. What is her consumption expenditure this year?
A) 30,422 B) 12,174 C) 40,226 D) 38,774 E) 33,454
Refer to Figure 8.4. The marginal cost of the sixth microwave oven is A) $83.33. B) $116.67. C) $200. D) $1200.