In the spot foreign exchange market,
A) only dollars, yen, and pounds may be traded.
B) only dollars and yen may be traded.
C) currencies or bank deposits are exchanged immediately.
D) currencies or bank deposits are exchanged at a fixed date (or spot) in the future.
C
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A rent ceiling set below the equilibrium rent will
A) increase search activity. B) decrease search activity. C) have no effect on search activity. D) shift the housing supply curve rightward.
According to Figure 3.2, the marginal product of labor
a. falls short of the real wage at point b. b. is higher at point a than at point e. c. equals the real wage at point c. d. All of the above e. None of the above.
Refer to Scenario 17.2. If the threshold educational level y* is set at 20,
A) only individuals in Group K will attain it. B) only individuals in Group M will attain it. C) individuals in both groups will attain it. D) no individuals will attain it. E) some fraction of individuals in each group will attain it.
Which of the following would be categorized as "land"?
A) timber B) human capital C) buildings D) entrepreneurship