98 ! read this news report about a planned devaluation of the bolivar, the currency of venezuela. the president of venezuela announced that the country would be devaluating the bolivar for the fifth time in nine years. the official rate is falling from 4.3 bolivars to the dollar, to 6.3, a 32% devaluation. by increasing the bolivar value of exports of oil to the us and other nations, the government hopes to alleviate a budget crisis caused by its increasing reliance on borrowing to meet spending obligations. in response to the announcement, the people of venezuela lined up today to buy televisions, electronics, and airline tickets in order to protect themselves from projected price increases. by devaluating the bolivar, the president of venezuela has followed the law of supply and demand. allowed the exchange rate to remain unchanged. increased the number of bolivars needed to buy one dollar. decreased the number of bolivars needed to buy one dollar.

The distinction between a normal and an inferior good is

The federal act which provided over $7 billion to the epa to protect and promote "green" jobs and a healthier environment is the - national environmental policy act. - resource recovery act.- resource conservation and recovery act.- american recovery and reinvestment act. - clean air act.

< back to assignment attempts: 1 1 keep the highest: 1 / 2 2. determining opportunity cost juanita is deciding whether to buy a suit that she wants, as well as where to buy it. three stores carry the same suit, but it is more convenient for juanita to get to some stores than others. for example, she can go to her local store, located 15 minutes away from where she works, and pay a marked-up price of $102 for the suit: store travel time each way price of a suit (minutes) (dollars per suit) local department store 15 102 across town 30 88 neighboring city 60 65 juanita makes $42 an hour at work. she has to take time off work to purchase her suit, so each hour away from work costs her $42 in lost income. assume that returning to work takes juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. as you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling. complete the following table by computing the opportunity cost of juanita's time and the total cost of shopping at each location. store opportunity cost of time price of a suit total cost (dollars) (dollars per suit) (dollars) local department store 102 across town 88 neighboring city 65 assume that juanita takes opportunity costs and the price of the suit into consideration when she shops. juanita will minimize the cost of the suit if she buys it from the . grade it now save & continue continue without saving