What would be an example of consumption service?
A) Rhianna gets a haircut.
B) Jake buys an iPhone.
C) Antonio, the manager of the local Taco Hut, purchases a new deep fryer.
D) The local driver's license office purchases a new digital camera and printer.
E) Donald Trump purchases furniture for his office.
A
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Which of the following is true about an individual's choice of insurance assuming state-independent tastes?
A. Full insurance will be chosen from a full menu of actuarily fair insurance if tastes are risk averse. B. No insurance will be chosen if the menu of insurance contracts is actuarily unfair and tastes are risk averse. C. No insurance will be chosen if the menu of insurance contracts is actuarily unfair and tastes are risk-neutral. D. (a) and (b) are true. E. (a) and (c) are true. F. (b) and (c) are true. G. All of the above. H. None of the above
Refer to Figure 4.4. At an interest rate of 7%,
A) Foreign borrowers have an incentive to offer lenders in the United States an interest rate greater than 7%. B) Foreign lenders have an incentive to offer borrowers in the United States an interest rate less than 7%. C) U.S. lenders have an incentive to offer borrowers in the rest of the world an interest rate of 7%. D) U.S. borrowers have an incentive to offer U.S. lenders an interest rate greater than 7%.
A decrease in the dollar price of foreign currency would cause
a. the nation's imports to increase and exports to decline. b. the nation's exports to increase and imports to decline. c. both imports and exports to decline. d. both imports and exports to rise.
An exchange rate:
A. is the ratio of the dollar volume of a nation's exports to the dollar volume of its imports. B. measures the interest rate ratios of any two nations. C. is the amount that one nation must export to obtain $1 worth of imports. D. is the price that the currencies of any two nations exchange for one another.