Suppose that the pound is pegged to gold at £20 per ounce and the dollar is pegged to gold at $35 per ounce. this implies an exchange rate of $1.75 per pound. if the current market exchange rate is $1.60 per pound, how would you take advantage of this situation? hint: assume that you have $350 available for investment. a. start with $350. buy 10 ounces of gold with dollars at $35 per ounce. convert the gold to £200 at £20 per ounce. exchange the £200 for dollars at the current rate of $1.80 per pound to get $360. b. start with $350. exchange the dollars for pounds at the current rate of $1.60 per pound. buy gold with pounds at £20 per ounce. convert the gold to dollars at $35 per ounce. c. a) and b) both work d. none of the above

Consider the following scenarios. use what you have learned to decide if the goods and services being provided are individual, public, or merit goods. for each case, state what kind of good has been described and explain your answer using the definitions of individual, public, and merit goods. (6 points each) 1. from your window, you can see a city block that's on fire. you watch city firefighters rescue people and battle the flames to save the buildings. 2. while visiting relatives, you learn that your cousins attend a nearby elementary school that is supported financially by local property tax revenue. 3. you see a squadron of military jets flying overhead. 4. you find out that your aunt works for a defense manufacturing company that has several defense contracts with the government. she tells you that she works for a team that is producing a communications satellite. 5. your class visits a local jail run by a private, profit-making company that detains county criminals and is paid with tax revenue.

When cell phones were first entering the market, they were relatively large and reception was undependable. all cell phones were essentially the same. but as the technology developed, many competitors entered, introducing features unique to their phones. today, cell phones are only a small fraction of the size and weight of their predecessors. consumers can buy cell phones with color screens, cameras, internet access, daily planners, or voice activation (and any combination of these features). the history of the cell phone demonstrates what marketing trend?

During which of the following phases of the business cycle does the real gdp fall? a. trough b. expansion c. contraction d. peak