Lately, the Chinese authorities seem to be backing away from ____ and the Yuan has ____ relative to the dollar.
A. managed-float; devalued
B. currency peg; depreciated
C. floating rate; revalued
D. currency peg; appreciated
Answer: D
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Which of the following is likely to have the shortest transmission lag?
A) a change in personal income tax rates B) a change in government expenditures C) an increase in subsidies paid to firms D) an increase in public-service employment
The rising price of oil has made it feasible to extract oil out of oily sand in Canada. Concerning the oil market this is an example of
A) a higher price elasticity of supply in the long run. B) a higher price elasticity of supply in the short run. C) a higher price elasticity of demand in the short run. D) an inelastic long-run supply of oil.
In New York City, you need a license to drive a taxicab. Each license is valid for three years, and then it expires. The holder of a license can expect to earn $10,000 in profit each year. If the interest rate is 5 percent (0.05) per year, what is the value of a newly issued taxicab license? (Assume that each year's profit is received at the end of the year.)
a. $1,990.74 b. $10,000.00 c. $14,074.07 d. $27,232.48 e. $30,000.00
Up to what amount would a risk-neutral gambler pay to enter a game where on the flip of a fair coin, if you call the correct outcome the payoff is $2,000?
A. Up to $2,000. B. Up to $1,000. C. More than $1000 but less than $2000. D. More than $1,500.