In most cases, which of the following is true about a subsistence economy?
A) It has an agrarian society.
B) It is by definition landlocked.
C) It has a viable middle class.
D) It has high literacy levels.
E) It has an advanced economic infrastructure.
A
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With regard to hedging translation exposure, translation losses ____, and gains on forward contracts used to hedge translation exposure ____.
a. are not tax deductible; are taxed b. are tax deductible; are taxed c. are not tax deductible; are not taxed d. are tax deductible; are not taxed
To measure value, the concept of time value of money is used
A) to determine the interest rate paid on corporate debt. B) to bring the future benefits and costs of a project, measured by its expected profits, back to the present. C) to ensure that expected future profits exceed current profits today. D) to bring the future benefits and costs of a project, measured by its cash flows, back to the present.