If the forward exchange rate of the dollar in terms of pounds is less than the spot exchange rate,
A) inflation must be lower in the United States than in Britain.
B) inflation must be higher in the United States than in Britain.
C) market participants must be expecting the dollar to appreciate against the pound.
D) market participants must be expecting the dollar to depreciate against the pound.
D
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Andrew Carnegie dominated the steel industry on the basis of the Bessemer converter. This technology permitted unskilled men to produce large quantities of steel at relatively low costs. This technology was
(a) invented by Carnegie. (b) stolen from the British inventor Bessemer. (c) acquired legally from the British inventor Bessemer. (d) imported from Germany.
According to John Maynard Keynes, an economist must possess a rare combination of skills including being a mathematician, historian, statesman, and philosopher
a. True b. False Indicate whether the statement is true or false