The current exchange rate system has which of the following characteristics?
A) The countries of the European Union have adopted the gold standard.
B) Several developing countries in Asia have adopted the Bretton Woods system.
C) The United States allows the dollar to float against other major currencies.
D) The current global foreign exchange system is a fixed system.
E) All developing countries allow their currencies to float against the dollar and other major currencies.
C
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Determine if the following statements pertain to optimization by levels or optimization by differences
a. John is attempting to decide on a movie. He determines that the newest Batman movie provides him with $10 more of a benefit than the newest Spiderman movie. He adds to his net benefit by always buying a large popcorn and a large drink. b. Marcia finds that the net benefit of flying from Chicago to Honolulu on a non-stop United Airlines flight is $400, and the net benefit for the same trip flying on a one-stop American Airlines flight is $200 . c. Nikki decided to take the first available parking space as she entered the student lot. She felt that the first available space had a $5 premium on all other possible spaces since she did not want to risk being late for her exam. d. Reagan determined that the net benefit of taking the combination of two online courses and traditional lecture course was $100 . The same three courses online gave her a net benefit of $80; and all three in a lecture-based format gave her a net benefit of $10 .
Which of the following most closely defines the concept of poverty?
a. Poverty means that a person is morally bankrupt and thus is unworthy of social assistance. b. Poverty is a relative term describing the financial insolvency of a person. c. Poverty is a relative term and is based on the level of unemployment in the economy. d. Poverty is a relative term and is based on income considerably below the average in society.