Estimate the leverage you would offer to a client who wanted to borrow money to buy one SPY ETF if your firm requires the client to put up enough of their own money to cover 98% of one-day moves in the market. Leverage is the relative amounts of (i) the amount of asset the client can buy (i. e., the sum of the client’s money and your loan to the client), divided by (ii) the amount of money the client put up.

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Plastic and steel are substitutes in the production of body panels for certain automobiles. if the price of plastic increases, with other things remaining the same, we would expect: a) the demand curve for plastic to shift to the left. b) the price of steel to fall. c) the demand curve for steel to shift to the left d) nothing to happen to steel because it is only a substitute for plastic. e) the demand curve for steel to shift to the right

You are the cfo of a u. s. firm whose wholly owned subsidiary in mexico manufactures component parts for your u. s. assembly operations. the subsidiary has been financed by bank borrowings in the united states. one of your analysts told you that the mexican peso is expected to depreciate by 30 percent against the dollar on the foreign exchange markets over the next year. what actions, if any, should you take