When an exchange rate is determined strictly by the demands and supplies for a nation's currency, it is called:
a. fixed.
b. arbitrage.
c. floating.
d. unilateral.
e. balance of payments.
c
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Compared to English and colonial vessels, Dutch flyboats:
a. were lighter. b. required smaller crew. c. carried fewer armaments. d. cheaper to build and operate. e. All of the above.
Marginal profit is the profit
a. earned by a firm that is about to go out of business. b. calculated directly from the total cost curve. c. that is added by a one-unit increase in total output. d. earned for each dollar of cost increase.
Megan is a landscaper. Which of the following are included in her physical capital?
a. her knowledge of landscaping learned in college and her landscaping equipment b. her knowledge of landscaping learned in college, but not her landscaping equipment c. her landscaping equipment, but not her knowledge of landscaping learned in college d. neither her knowledge of landscaping learned in college nor her landscaping equipment
The risk-free rate is usually approximated by interest rates on U.S. government debt, because the US government:
A. backs all loans secured with that rate. B. sets all policy concerning interest rates. C. is considered extremely unlikely to default. D. will never default on a loan that it makes.