The future value of a deferred annuity is less than the future value of an annuity not deferred.

A firm increases the risks of insolvency by keeping relatively large amounts of money tied up in

marketable securities. Indicate whether the statement is true or false

In years past, Belgium, a participant of the former EMS, and South Africa operated a two-tier, or dual, exchange rate market. The two-tier market was abolished in March 1990 in Belgium and in March 1995 in South Africa

Import and export transactions were handled on the official market, and capital transactions were handled on the financial market, where the "financial" exchange rate was freely floating. Discuss why such a system may prevent speculators from profiting when betting on devaluation.