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Author Question: You took a summer job as a salesperson in a shoe store with the knowledge that you will either make ... (Read 13 times)

EY67

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on: Jun 29, 2018
You took a summer job as a salesperson in a shoe store with the knowledge that you will either make 2,000 or 3,500 with probabilities 0.4 and 0.6 respectively. What is your expected income for the summer job?
 
  A) 2,000
  B) 3,000
  C) 5,000
  D) 2,900

Question 2

The current account records foreign investment in a nation minus investment abroad. Is the previous statement correct or incorrect?
 
  What will be an ideal response?


momolu

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

The statement is incorrect. The current account equals exports minus imports plus net interest plus net transfers. The capital account records foreign investment in a nation minus investment abroad.


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