Which of the following condition provides a country with most gains based on the Ricardian trade model? A It produces all products while its trade partner specializes in one good. B The terms of trade are closer to its partner's autarkic prices than to its autarkic prices. C The terms of trade are closer to its autarkic prices than to its partner's autarkic prices. 不明白这个题

OCi 不是非股东的权益吗

老师，available for sale 是指的哪类资产呢

讲义159页，Lapsers index是过去的篮子，对于新产品来说，过去的篮子中并不包含，虽然新产品很贵，但不在篮子里，怎么会引起高估呢？？真是岂有此理

Supposing that a country has a persistent trade surplus and is being pressured to let its currency appreciate. If currency appreciation is to be effective in reducing the trade surplus, which of the following best describes the adjustment that must occur? A Domestic investment must decline relative to saving. B Global capital flows must shift toward the domestic market. C Foreigners must increase investment relative to saving. 不明白B选项

quote-driven market 中由于是dealer做主导，那么这个market 算是oligopoly么？各个dealer为了自己的利益最大化，会不会形成合谋呢？

复制的意义在于，我们利用两种不同的金融产品复合得到另外一种金融产品的收益状况（比如 asset derivative=risk free rate）。而组合的构成成本跟另一种金融产品的成本相比是否存在差异，如果有差异，我们就可以通过买低卖高获得收益，可以结合套利的概念来理解。 那这个题目就是说如果收益相同，那这两种方式的成本也应该是一样的，如果不一样，那它们的定价就是有问题的

老师你好！ R35中说到 Managed Derivatives 和 Distressed securities是Illiquid 见图一 但是之前学的R26中说是Highly liquid 见图二 想请老师帮忙解答一下这个是什么情况 谢谢！

想问下老师20题该怎么进行假设检验，答案看不太懂为什么要这样做？

Reading52 Example3 第一问求TWRR 为什么前4个月的HPR没有用（132-100）/100来算？