On May 3, 2016, the treasurer of a corporation enters into a long forward contract to buy 1 million in six months at an exchange rate of 1.4561. This obligates the corporation to pay $1,456,100 for £1 million on November 3, 2016. What is the purpose of going long?
What are the possible outcomes on Nov 3?

Match each of the terms below with an example that fits the term. a. fungibility the production of gasoline b. inelasticity the switch from coffee to tea c. non-excludability the provision of national defense d. substitution the demand for cigarettes

Joe finally found a house for sale that he liked. which factor could increase the price of the house he likes? a. both he and the seller each have a real estate agent. b. a home inspector finds faulty wiring in the house. c. the house has been for sale for almost a year. d. several buyers all want that same house.

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