Explain what Eurocurrencies are and why they are significant
What will be an ideal response?
Eurocurrencies are offshore currency deposits denominated in a currency other than that of the country in which the bank resides. This currency is significant because of the rapid expansion of international trade and increased multinational nature of corporations' activities.
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________ are costs that, once committed, can never be recovered and should not affect current and future production costs
A) Opportunity costs B) Marginal costs C) Sunk costs D) Variable costs
If a firm takes the wage as given, then the supply curve of labor to that firm is
A) horizontal. B) vertical. C) upward sloping. D) downward sloping.
Refer to the information provided in Figure 20.2 below to answer the question(s) that follow.
Figure 20.2Refer to Figure 20.2. England has an absolute advantage in producing
A. trucks. B. cars. C. neither cars nor trucks. D. both cars and trucks.
The theory of ________ assumes that individuals will use all information available to them to form the most accurate possible expectations about the future.
A. naïve expectations B. Keynesian economics C. rational expectations D. adaptive expectations