Whenever Congress has a perceived need for ongoing control of economic activity, it has tended to create a cabinet department.
The Vice President and the secretaries of agriculture, commerce, defense, education, energy, health and human services, homeland security, housing and urban development, interior, labor, state, transportation, and veterans affairs make up the cabinet. Cabinets come in three varieties: inset, full overlay, and partial overlay. Each phrase refers to the way a cabinet door or drawer rests against or inside a cabinet frame. The three varieties of cabinets also stand for various price ranges and fashion trends. Such a division is frequently referred to as the Prime Minister's Office. Various other nations have cabinet offices.
The Prime Minister's Office is a division of the Cabinet Office in the United Kingdom; a similar division exists in Australia and New Zealand.
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Answer:
Efficient market school.
Explanation:
Efficient market school is the market school which argues that forward exchange rates do the best possible job for forecasting future spot exchange rates, so investing in exchange rate forecasting services would be a waste of time because it is impossible to have a consistent alpha generation on a risk adjusted excess returns basis as market prices are only affected by new informations.
The efficient market school also known as the efficient market hypothesis (EMH) is a hypothesis that states that asset (share) prices reflect all information and it is very much impossible to consistently beat the market.
Also, forward exchange rates are exchange rates controlling foreign exchange transactions at a specific future date or time.
<em>Hence, according to the efficient market school it would be a waste of time investing in exchange rate forecasting services because all the information about an asset or security is already factored into their prices and as a result of the randomness of the market. </em>
Answer:
d. $2(1.10)/[0.15-0.10]
Explanation:
The formula to compute the today value of the stock by using the Gordon model is shown below:
= Next year dividend ÷ (Required rate of return - growth rate)
where,
Next year dividend is
= $2 + $2 × 10%
= $2 + 0.2
= $2.2
And, the required rate of return is 15%
Plus the growth rate of return is 10%
So, the today value of the stock is
= $2.2 ÷ (15% - 10%
= $44
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