Consider the currency market for British pounds and U.S. dollars. A decrease in the supply of British pounds results in

A) an appreciation of the pound and a depreciation of the dollar.
B) a depreciation of the pound and a depreciation of the dollar.
C) an appreciation of the pound and an appreciation of the dollar.
D) a depreciation of the pound and an appreciation of the dollar.

People who want to reduce the risk they face may pay other people who are less sensitive to risk to take on some of their risk.As a result:

A) a market for risk is illegal.
B) trade in risk reduces mutual gains.
C) total risk increases.
D) people who are willing to accept more risk will purchase from people who are less willing.

Any contract entered into with an unlicensed party is enforceable.

Which of the following is not one of the aims of the RUPA?

A) To maintain a level of exclusivity to partnership status
B) To codify partnership law in one document
C) To make partnership law nearly consistent with itself
D) To attain uniformity throughout the country

Because formal channels are recognized as authoritative, it is typical for communication of policies, procedures, and other official announcements to adhere to them.

The total cost transferred from the first processing department to the next processing department during the month is closest to:

A) $202,600
B) $193,300
C) $175,246
D) $218,290

Traveler's checks that commonly require,as a condition to payment,a countersignature of a person whose specimen signature appears on the draft.Traveler's checks are:

A) voidable.
B) negotiable.
C) nonnegotiable.
D) unenforceable.