Seja !$ v(z) !$ a função que associa a cada !$ z \, \in \, R^2_+, !$ o valor máximo da função !$ f ,\ (\chi, \, y) \, = \, \chi y !$ na região !$ \{ (\chi, \, y) \, \in \, R^2_+ \, : \, 5 \chi \, + \, 3 \, y \, = \, z \}. !$ Avalie a afirmativa:

Item 2 - A derivada da função v em !$ z \, = \, 1 !$ é igual a !$ 15v(1). !$

Após o primeiro choque do petróleo em 1973, o Brasil optou por manter uma política de crescimento econômico em vez de ajustar-se ao choque externo pela redução de suas importações.

Sobre este período, é correto afirmar que:

Item 0 - A opção de manter o crescimento foi responsável pelo grande aumento da dívida externa no período.

According to the text, Keynes’ concept of “third degree”

Item 0 - is ill-defined;

During the Great Depression, American policymakers decided that speculation was best controlled by limiting the speculators’ access to financial leverage. As a result, margin loans were limited by federal law to 50 percent of stock values. This policy has since broken down with the advent of financial derivatives, as the case of LTCM demonstrates in extremis. (Note: LTCM stands for Long-Term Capital Management, a nearly bankrupt hedge fund bailed out by the Federal Reserve Bank of New York in 1998). It has recently been proposed that derivatives should be subject to the same margin limits as conventional stock purchases. Restrictions on speculators’ ability to achieve almost limitless leverage through the derivatives market might lessen the risk of systemic crisis in the financial world. Improved information in the almost unregulated derivatives world would also hinder excessive accumulation of debt, such as occurred at LTCM.

According to the text, Depression Era policy of limiting speculators’ access to financial leverage

Item 3 - may be improved through the spread of relevant information;

When the tide turns against the speculator there is an inevitable loss of liberty. In The Road to Serfdom (first published in 1949), the Austrian economist Friedrich von Hayek declared that state control of foreign exchange dealing was a “decisive advance on the path to totalitarianism and the suppression of the individual liberty.” Hayek believed that from a mixed economy there would be an inevitable progression to socialism. History has proved Hayek wrong. His analysis underestimated the power of speculation, even in quasi-socialist economies, to pull in the opposite direction. Speculation undermined the Bretton Woods system of fixed currencies and, more recently, it has destroyed the state-managed capitalism of Japan and other Asian nations. As an anarchic force, speculation demands continuing government restrictions, but inevitably it will break any chains and run amok. The pendulum swings back and forth between economic liberty and constraint.

According to Hayek,

Item 1 - the Bretton Woods system of fixed currency is clearly superior to the flexible exchange rate regimen;

De 1968 a 1973 a economia brasileira registrou elevadas taxas de crescimento econômico combinadas com taxas de inflação estáveis ou declinantes. Sobre esta fase, denominada de “Milagre Econômico”, é correto afirmar:

Item 0 - O crescimento econômico foi favorecido por políticas monetária, creditícia e fiscal expansionistas

Avalie as afirmativas:

Dada a matriz !$ A \, = \, \begin {pmatrix} 1 \,\, 2 \,\, 3 \,\, 4 \\ 0 \,\, 5 \,\, 6 \,\, 7 \\ 0 \,\, 0 \,\, 8 \,\, 9 \\ 0 \,\, 0 \,\, 0 \,\, 10 \end {pmatrix} !$

Item 2 - A é diagonalizável.

During the Great Depression, American policymakers decided that speculation was best controlled by limiting the speculators’ access to financial leverage. As a result, margin loans were limited by federal law to 50 percent of stock values. This policy has since broken down with the advent of financial derivatives, as the case of LTCM demonstrates in extremis. (Note: LTCM stands for Long-Term Capital Management, a nearly bankrupt hedge fund bailed out by the Federal Reserve Bank of New York in 1998). It has recently been proposed that derivatives should be subject to the same margin limits as conventional stock purchases. Restrictions on speculators’ ability to achieve almost limitless leverage through the derivatives market might lessen the risk of systemic crisis in the financial world. Improved information in the almost unregulated derivatives world would also hinder excessive accumulation of debt, such as occurred at LTCM.

According to the text, Depression Era policy of limiting speculators’ access to financial leverage

Item 2 - should be extended to include financial derivatives;

Although a new system of fixed currencies would necessitate a degree of capital controls, there is no evidence that this would actually inhibit economic growth. In fact, the growth rates of Western nations have actually declined since the early 1970s. Providing currencies with fixed values would also obviate the need for derivatives, which could be allowed to wither on the vine without posing any further threat to the financial system.

European businesses are the keenest supporters of the European single currency project because it saves them the cost and uncertainty of hedging their trading operations in the derivatives markets. Investors in foreign countries might forgive capital controls and restrictions on the early withdrawal of investments if they had greater confidence that economic conditions in these countries would not be suddenly undermined by speculative currency attacks. A fixed currency system would also define the limits of speculation in the manner performed by the gold standard in the nineteenth century.

According to the text, the proposed system of fixed currencies

Item 1 - could stimulate economic growth;