The European Monetary System (EMS) relied on the ______ to maintain fixed rates of exchange, but in 1992, several notable defections from the system created doubt that a monetary union could occur.
A) euro
B) U.S. dollar
C) the European currency unit (ECU)
D) ERM
Ans: D) ERM
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Dividing the dividend payment by the stock's closing market price determines the
A) dividend yield. B) coupon payment. C) price-earnings ratio. D) selling price of the stock.
Under rent control, landlords cease to be responsive to tenants' concerns about the quality of the housing because
a. with shortages and waiting lists, they have no incentive to maintain and improve their property. b. they become resigned to the fact that many of their apartments are going to be vacant at any given time. c. with rent control the government guarantees landlords a minimal level of profit. d. with rent control it becomes the government's responsibility to maintain rental housing.
John has been a sky diver for many years. When the company John works for offers its employees the option to purchase a life insurance policy, John purchases a policy. This illustrates the problem of
a. moral hazard. b. adverse selection. c. risk-return tradeoff. d. diversification.
Mr.Hershey' company produces chocolate bars. Which is NOT a variable input for this firm?
A) sugar B) assembly line workers C) the big chocolate-stirring machines D) packaging materials