The question of legality in daily fantasy comes down to
A. whether the points system is transparent
B. how big the bet is.
C. whether it is a game of skill or chance. It is usually legal if it is a game of skill.
D. whether it is a game of skill or chance. It is usually illegal if it is a game of skill.
Answer: C
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If the level of interest rates increases, then the current value and price of a bond paying a fixed interest payment will
A) remain unchanged since its underlying value, the interest payment is fixed. B) fall since new bonds offer higher rates. C) rise since new bonds offer higher rates. D) first rise then fall as bond investors calculate the effects of the change in rates.
A period of stagflation is part of the normal aftermath of a period of excessive aggregate demand.
Answer the following statement true (T) or false (F)
The reason relative purchasing power parity (RPPP) is better at predicting exchange rates than absolute purchasing power parity (APPP) is because:
a. Actually, it is the other way around. APPP has been shown empirically and theoretically to be a more accurate way to predict exchange rates. b. APPP deals only with countries that have some sort of imbalance like hyperinflation. RPPP deals with any and all countries, which makes the job of predicting exchange rates easier. c. APPP has to begin and end in parity. RPPP just requires that the initial disequilibrium remain the same. d. APPP predictions are often biased because of central bank controls, sticky prices, and protectionism. RPPP can abstract from these problems.
Vertical equity refers to the notion that individuals at all levels should be taxed equally.
Answer the following statement true (T) or false (F)