Which of the following is NOT a function of the interbank part of the foreign exchange market?
A. Provides clearing services for organizations that prefer to use different currencies
B. Provides a bank with a continuous stream of information on conditions in the foreign exchange market
C. Permits a bank to take on a position in a foreign currency quickly if the bank and its traders want to speculate on exchange-rate movements in the near future
D. Provides a bank the means to readjust its own position quickly and at low cost when it separately conducts a large trade with a customer
Answer: A
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If a resource has a perfectly elastic supply curve then its income is termed as:
a. economic rent. b. rental rate of capital. c. rental income. d. annuity. e. transfer earnings.
To create a market
A) roles must be assigned. B) agents need instructions. C) property rights must be defined. D) transactions costs must be zero.
Figure 7.5
The consumer must decide how to split $20 between spending and saving.Refer to Figure 7.5. If the consumer uses cognition to offset present bias, he/she will consume ________ now and save ________ to maximize utility.
A. $12; $8 B. $18; $2 C. $12; $2 D. $0; $20
In the short run, the additional output that results from hiring an additional unit of a variable input is the
A) marginal product. B) average product. C) average variable cost. D) marginal cost.