If the 12-month interest rates for the United States and the United Kingdom are 6% and equal, and £1 = $2 in the spot market, then what do you expect the 12-month forward rate to be?

If the percentage change in quantity demanded is smaller (in absolute value) than the percentage change in price, then demand is

a. inelastic b. elastic c. unit elastic d. determined by supply e. inadequate compared to supply

The equilibrium purchase price of an acre of land depends upon the current value of the marginal product of land and upon the __________

Fill in the blank(s) with correct word