If the 2005 inflation rate in Britain is 6 percent, and the inflation rate in the U.S. is 4 percent, then the theory of purchasing power parity predicts that, during 2005, the value of the British pound in terms of U.S. dollars will
A) rise by 10 percent.
B) rise by 2 percent.
C) fall by 10 percent.
D) fall by 2 percent.
E) do none of the above.
D
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A real estate agent sold a home for $275,000. Prior to closing, the agent's license was revoked on grounds of moral turpitude. With respect to his eligibility for the commission, which of the following statements is true?
A. He is eligible for the commission because he was duly licensed when the sale was made B. He is eligible for the commission because he is technically licensed until all appeals have been exhausted C. He is not eligible for a commission because he was not licensed at the time the commission was paid D. He is not eligible for a commission because a license revocation automatically nullifies any right to commission that are yet unpaid
Monique contracts with Mrs. Jones to build a fireplace in Mrs. Jones’ home for $5,000. After completing the fireplace, Monique sends an invoice to Mrs. Jones. Which of the following is true?
A. Mrs. Jones is a secured creditor. B. Monique is an unsecured creditor. C. Mrs. Jones is in default. D. Mrs. Jones’ home is collateral.