When you calculate your true costs of going to college, what portion of your room-and-board expenses should be included?
a. Your full room-and-board expenses should always be included.
b. None of your room-and-board expenses should ever be included.
c. You should include only the amount by which your room-and-board expenses exceed the income you earn while attending college.
d. You should include only the amount by which your room-and-board expenses exceed the expenses for rent and food if you were not in college.
d
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How is the equilibrium exchange rate determined?
What will be an ideal response?
How do you determine is a foreign exchange market is efficient?
A) See if the market rates adjust quickly to new and relevant information. B) See if systematic profit opportunities are quickly eliminated. C) See if forward rates are equal to expected future spot rates. D) All of the above should be true if a foreign exchange market is efficient.
Under a communist system,
A. consumer decisions are not influenced by prices. B. resources are owned and controlled by the government. C. individual freedom is maximized. D. the market guides resources, but the state dictates what should be produced.
Information asymmetries are defined to be when:
A. one party to a transaction has more information that another. B. information isn't readily available to anyone. C. one party withholds information from the other party. D. both sides to a transaction have equal information.