A futures contract is essentially the same thing as a forward contract.
a. true
b. false
Ans: b. false
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When a perfectly competitive firm is in long-run equilibrium, what is the relationship between the firm's marginal cost, average total cost, marginal revenue, and price?
What will be an ideal response?
Foreign exchange means
a. changing dollars into foreign currency b. domestic currency held to finance international trade c. foreign currency d. trade between governments e. trade between individuals in different countries
A salesperson's bonus for this year is based on meeting targets based on last year's sales. This year turns out to be an unusually good year. The salesperson is likely to:
A. defer some sales to the next fiscal year B. just be satisfied with meeting last year's target. C. meet the target easily and push forward with all potential sales. D. fail to meet the last year's targets because of overconfidence.
What is fiat money? Why is fiat money important in the United States today?
What will be an ideal response?