An abrupt depreciation of a currency whose value was fixed or managed by the government is referred to as

What is the "underwriting spread?"

A) the average percentage of the total bond issue handled by a member of an underwriting syndicate B) the difference between the price the underwriters receive and the price they pay the borrower C) the length of time the underwriter agrees to withhold the bonds from the primary market D) the number of financial institutions in the underwriting syndicate

Return to the market for cigarettes from the previous question. What per-unit tax could the government levy to eliminate the deadweight loss from the behavioral bias?

a. 0 b. 1 c. 50 d. 100