The New York Stock Exchange handles only about 10 percent of all stock market transactions in the United States

Sometimes a change in the real effective multilateral exchange rate has the opposite result from what one would expect. One explanation may be:

a. that buying habits are very strong and firms and consumers continue their behavior despite large changes in prices of imports. b. that price changes do not bring about immediate responses in import or export volume because of contracts, or firms' difficulty in changing suppliers quickly. c. that the theory is fundamentally flawed and does not predict well. d. that there are other factors we are not considering that affect the trade balance.

A large part of the principal-agent problem stems from the desire of

A) agents to work hard. B) agents to avoid working. C) principals to work hard. D) principals to avoid working.