Match each of the following jobs to its major area: forecasting, analysis, research, or data development. Explain your answers
(a) Economist at university, testing theories about the efficient allocation of resources in the foreign exchange market (b) Economist at Wall Street firm trying to predict the rate of inflation next year using past data (c) Economist at auto firm looking at demand for new automobiles (d) Economist at the International Trade Commission trying to determine whether foreign firms are dumping goods in the United States (e) Economist at the Commerce Department developing new methods for calculating price indexes (f) Economist consulting in Eastern Europe about how to set up free-market financial systems
(a) Research
(b) Forecasting
(c) Analysis
(d) Analysis
(e) Data development
(f) Analysis
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Consumers in a monopolistically competitive market do not receive any consumer surplus because the price paid for the product exceeds the marginal cost of production
Indicate whether the statement is true or false
Preferred stock differs from common stock in all the following ways except it
a. does not carry voting privileges b. represents corporate debt, not ownership c. pays dividends to preferred stockholders first d. pays a fixed dividend e. has a prior claim on dividends
Which of the following is not a benefit to lenders/investors of financial intermediation?
a. Lower transaction costs than the direct market. b. Lower risks than the direct market. c. More diversification than the direct market. d. More convenient than the direct market. e. Higher yield than the direct market.
If the price of a good in the U.S. is $10 and the unit of foreign currency is the dinar, in which case is the real exchange rate 5/4?
a. the foreign price is 4 dinars and the exchange rate is 1/2 dinars per dollar b. the foreign price is 5 dinars and the exchange rate is 2.5 dinars per dollar c. the foreign price is 4 dinars and the exchange rate is 2 dinars per dollar d. the foreign price is 5 dinars and the exchange rate is 2/5 dinars per dollar