Twenty-four years before CUSTA, another agreement between the same countries covered trade in
A) textiles.
B) steel.
C) autos.
D) agriculture.
E) telecommunications.
C
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Futures contracts differ from forward contracts in that
A) future contracts ensures you will receive a certain amount of foreign currency at a specified future date. B) future contracts bind you into your end of the deal. C) future contracts allow you to sell your contract on an organized futures exchange. D) future contracts are a disadvantage if your views about the future spot exchange rate are to change. E) futures contracts don't allow you to realize a profit of a loss right away.
In order to get his bachelor's degree, Timothy gave up an offer for a full time job as a bartender. Therefore, Timothy incurred an opportunity cost.
Answer the following statement true (T) or false (F)
Suppose that the government sets a maximum price for milk at $5 a gallon and the equilibrium price of a gallon is $3. How much quantity traded will this maximum price lead to?
A. the equilibrium quantity B. below the equilibrium quantity C. above the equilibrium quantity D. There is not sufficient information.
The long run: a. is a period long enough for every input except plant size to be varied. b. is a period in which there are no fixed costs
c. is typically a period of two years. d. is all of the above.