Assume That the Yen/dollar Exchange Rate Quoted in Tokyo at 3:00

question 21

Multiple Choice

Assume that the yen/dollar exchange rate quoted in Tokyo at 3:00 p.m. is ×120 = $1, and the yen/dollar exchange rate quoted in New York at the same time is ×123 = $1. A dealer in New York uses dollars to purchase yen and then immediately sells the yen to buy dollars in Tokyo, thereby making a profit. The dealer has engaged in a(n) _____.

• A) currency swap
• B) arbitrage
• C) carry trade
• D) straddle

Recognize the philosophical and operational differences between judicial activism and judicial restraint.

Describe the structure and functions of the U.S. Supreme Court, including decision-making processes and the types of opinions issued.

Understand the concept and implications of a writ of certiorari.

Articulate the significance of senatorial courtesy and its impact on judicial appointments.

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