The stock market crash of 1929 may have been avoided if:
A. large companies had been more objective in their decision making.
B. investors had acted rationally.
C. investors had acted irrationally.
D. large companies had been more emotional in their decision making.
Answer: B
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Purchasing power parity or PPP says the ratios composed of:
a. interest rates explain the direction of exchange rates. b. growth rates explain the direction of exchange rates. c. inflation rates explain the direction of exchange rates. d. services explain the direction exchange rates. e. public opinion polls explain the direction of exchange rates.
An implicit cost is
a. any cost a firm cannot avoid in the short run b. any expenditure a firm makes c. an opportunity cost d. accurately measured in accounting statements e. ignored by economists