Refer to Figure 14.1 for the Following Questions

question 37

Multiple Choice

Refer to Figure 14.1 for the following questions.
Figure 14.1

-Refer to Figure 14.1. Which of the following events cause the shifts in the supply and demand curves in the market for dollars against the British pound shown in the graph above?

• A)interest rates rise in England
• B)interest rates rise in Australia
• C)real income rises in Australia
• D)real income falls in England

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Definitions:

Scotoma

A spot in the visual field in which vision is absent or diminished, often due to damage in the visual pathway.

Illusion

A false perception or misinterpretation of a real sensory stimulus, often leading to an incorrect understanding of reality.

Just Noticeable Difference

The minimum difference in stimulation required to detect a difference between two stimuli, also known as the difference threshold.

Perceptual Threshold

The minimum level at which a stimulus is detected by the senses.