According to Robert E. Hall and Charles Jones, successful economic performance requires
A) a favorable infrastructure of rules and institutions.
B) minimizing corruption and criminality.
C) the use of one of the eight major international languages.
D) A and B.
E) all of the above.
E
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Briefly answer the following questions
(a) What is a foreign currency option? Is there any difference between a European and American option? (b) Why might you prefer an option over a futures or forward contract? (c) When can a gain be made by the holder of a call option? A put option?
A large farm uses fertilizer that nearby landowners complain may contaminate their water. Tests are conducted and contaminants are found. The costs resulting from this decision are referred to as
A) implicit costs. B) factor costs. C) external costs. D) opportunity costs.