The buyer of a derivative is ________ assuming risk relative to the seller.

Refer to Table 2-14. If the two countries specialize and trade, who should export motorcycles?

A) There is no basis for trade between the two countries. B) They should both be importing motorcycles. C) Scotland D) Ireland

Which of the following statements is false?

A) There is an indifference curve associated with any combination of goods selected by a consumer. B) A consumer is indifferent among all consumption bundles along a given budget line. C) Consumption bundles that lie on higher indifference curves yield higher utility. D) All consumption bundles along a given indifference curve are equally desirable.