In which of the following categories would the sale of foreign currency with a forward repurchase agreement be included?
a. an option
b. a futures contract
c. a forward contract
d. a swap
Ans: d. a swap
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Concerning economic growth, which of the following is true?
a. A favorable institutional environment will tend to attract more investment in human and physical capital. b. Poor nations grow slowly because they do not have access to modern technology c. Human and physical capital investments are largely irrelevant to economic growth. d. Nations achieve high rates of economic growth primarily because of their natural resource endowments.
Patents have been defended by some on the grounds that they stimulate inventive activity. Others have argued for changes in current patent laws because:
a. resources are misallocated by the grant of a patent monopoly b. patents may not be necessary to encourage inventive activity c. the current patent monopoly period (17 years) is too short to encourage any inventive activity. d. a and b only e. all of the above
The implicit cost of ownership:
A. is a cognitive bias. B. is an unproven concept. C. is the monetary opportunity cost that is often overlooked. D. All of these are true.
Which of the following is an example of market governance?
a. A firm vertically integrating backward to own the necessary inputs b. A firm entering into a contract with input suppliers. c. A school recruiting a part-time teacher to cover for a permanent employee who falls very ill. d. A school requesting its permanent employees to cover for a teacher who suddenly falls ill.