With a constant nominal interest rate equal to i, the present discounted value of $1.00 to be received 4 years from today is equal to

A decrease in quantity demanded because of an increase in price is represented by a

A) rightward shift of the demand curve. B) leftward shift of the demand curve. C) movement up and to the left along the demand curve. D) movement down and to the right along the demand curve.

Traditionally, Wall Street investment banks had been organized as partnerships, but by 2000 they had converted to being publicly traded corporations. As partnerships, the principal-agent problem is ________, but as publicly traded corporations, the

principal-agent problem is often ________. A) increased; more severe B) increased; less severe C) reduced; more severe D) reduced; less severe