The exchange rate for a foreign currency that is determined by supply and demand is
A) a fixed exchange rate.
B) a controlled exchange rate.
C) a constrained exchange rate.
D) a flexible exchange rate.
D
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Complete the sentence. An entrepreneur advances a project only if the expected marginal benefit exceeds the expected marginal cost,
A) and so does a government bureaucrat. B) but a government bureaucrat advances a project only if the marginal cost exceeds the marginal benefit. C) but a government bureaucrat is in no position to determine the cost of his own action. D) but a government bureaucrat has no concern about the benefit of his own action.
Which of the following would be categorized as capital resources for a college or university?
a. water, trees, and the acreage a campus rests on b. chalkboards, overhead projectors, and computers c. exams, fuel oil (which heats the buildings), and electricity d. the work effort of registrars, clerical assistants and teaching assistants