A market demand curve measures
A) how much a consumer is willing to pay for an additional unit of the good.
B) the marginal social benefit of an additional unit of the good.
C) the marginal social cost of an additional unit of the good.
D) Both answers A and B are correct.
D
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Refer to Scenario 5.1. The expected value of the undertaking,
A) according to Sarah, is $75,000. B) according to Sarah, is $100,000. C) according to Sarah, is $110,000. D) according to Aline, is $200,000. E) according to Aline, is $100,000.
The fact that exchange rates are nearly identical in different markets around the world is due to
a. the actions of speculators b. official action by central banks around the world c. the actions of arbitrageurs d. agreement by policy makers of the major industrial countries e. the actions of currency converters