Arbitrage ensures that the spot exchange-rate value of a currency will equal the forward exchange-rate value of the currency.

Which of the following is an example of a product that is excludable and rival?

A) a motorcycle B) the court system C) Western lowland gorillas D) a NASCAR event

Suppose you have surveyed a few industries and obtained information about the income elasticity of demand for their products

If you expect that the economy is headed for a long recession, you would advise people to look for jobs in an industry with A) a "low" negative income elasticity coefficient such as -0.2. B) a high positive income elasticity coefficient such as 5. C) a low positive income elasticity coefficient such as 0.8. D) a "high" negative income elasticity coefficient such as -4.