Sendo Y e X duas variáveis aleatórias, é correto afirmar que:

Item 2 - Var (Y + X) = Var(Y) + Var(X), se Y e X forem independentes;

Public policy by the principal developed country (D

Avalie o item abaixo, relativas à equivalência ricardiana:

Item 2 - O consumo depende da riqueza logo, segundo a equivalência ricardiana, quanto mais títulos do governo estiverem nas mãos das pessoas, maior deverá ser o consumo.

Rising real rates of interest, transmitted to LDCs and to their DRAs, are likely to cause rising rates of resource degradation, via private incentives and public capacities.

Suppose a farmer is choosing between a “sustainable” way to manage land, which generates a net return of y1 each year forever, and “exhaustive” way, which generates a higher return, y2 each year for n years, after which the land has been destroyed and yields nothing. It can easily be shown that the “sustainable” path yields a higher present value if, and only if

(y2/y1) < 1 – 1/ (1 – r)ⁿ⁺¹

Where r is the real interest rate for a n-year loan. For example, if r = 10 percent and n = 15 years, the sustainable path is chosen only if it produces at least 78 percent as much, forever, as the exhaustive path produces for 15 years before destroying the land. If r = 5 percent, the sustainable path needs to produce less, namely, 54 percent of “exhaustive” net returns, to be preferred. Clearly, the rise in real long-term rates of interest, if transmitted to DRAs, must have had enormous incentive effects on resource management, shifting it away from sustainability.

If risk is allowed for, the interest rate incentive to deplete is probably sharpened. Higher interest rates reduce the present-value burden of long-term-future downside risks, relative to that of near-term risks (and costs). The land use patterns are therefore shifted toward activities with long-term risks, such as possible long-term resource degradation.

In the analysis of the effects of risk on resource depletion, the text allows one to conclude that:

Item 2 - higher interest rates makes long-term risk considerations less important to resource managers;

Sobre a inserção internacional do Brasil na década de 1990 é correto dizer que:

Item 2 - o Brasil atraiu elevados investimentos diretos, em parte destinados aos setores que foram privatizados;

Avalie o item abaixo sobre criação de base monetária, meios de pagamento e taxa de juros:

Item 4 - Pela equação de Fisher, a taxa de juros real é determinada pela inflação esperada.