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 0 - has since become ineffective;

Sobre o Programa de Ação Econômica do Governo (PAEG), implementado pelo Governo Castelo Branco, é correto afirmar que:

Item 0 - Esteve centrado no combate à inflação e por isto não estabeleceu metas de crescimento econômico.

The following statements are true:

Item 3 - Derivatives markets offer a mechanism through which businesses can hedge their trade operations.

Avalie a afirmativa:

Item 0 - A soma dos quadrados dos autovalores de !$ A \, = \, \begin {bmatrix} 0 \,\, 3 \\ -3 \,\, 0 \end {bmatrix} !$ é –6.

Sobre a economia no Governo Kubitschek, é correto afirmar que:

Item 1 - A substituição de importações foi mais intensa nos setores de bens de capital e de bens de consumo duráveis.

Um indivíduo tem renda de R$ 12,00. Este indivíduo tem a possibilidade de investir em um ativo de risco que dá um retorno unitário de R$ 16,00, com probabilidade 0,5, e retorno zero, com probabilidade 0,5. O preço unitário do ativo é R$ 3,00. Sua função-utilidade de von Neumann-Morgenstern é !$ u \, ( \chi) \, = \, \sqrt{ \chi}. !$ Julgue a afirmativa:

Item 3 - O equivalente-certeza na opção de comprar o ativo é 18.

There have been a number of proposals, of varying degree of practicality, about how best to deal with the problem of foreign currency instability. The reintroduction of capital controls, controls on foreign borrowing, improved accountancy and less cronyism on emerging markets, a tax on capital inflows into emerging markets, a tax on foreign exchange transactions, controls on hedge funds, the reform of the International Monetary Fund so it can perform effectively the function of the lender of the last resort, and even the establishment of a world central bank are among the ideas floated by policymakers who appeared wrong-footed by the unexpected appearance of world financial crisis. Dominique Strauss-Kahn, the French finance minister, has called for the construction of a “new Bretton Woods.”

According to the text, the proposals to deal with the problem of foreign currency instability

Item 4 - include the reenactment of certain Bretton Woods’ clauses, e.g., the fixed exchange rates regimen.

Um pesquisador estima o seguinte modelo de regressão simples: !$ Y_i \, = \, \beta_0 \, + \, \beta_1 X_i \, + \, e_i. !$ Outro pesquisador estima o mesmo modelo, mas com escalas diferentes para !$ Y_i \,\, e \,\, X_i. !$ O segundo modelo é: !$ Y^*_i \, = \, \beta^*_0 \, + \, \beta^*_1 X^*_i \, + \, e^*_i, !$ em que: !$ Y^*_i \, = \, w_1 Y_i, \, X^*_i \, = \, w_2 X_i !$ e !$ w_1 !$ e !$ w_2 !$ são constantes maiores que zero.

Item 1 - Se !$ \hat{\sigma}^{*2} !$ é a variância estimada de !$ e^*_i !$ e !$ \hat{ \sigma}^{2} !$ é a variância estimada de !$ e_i, !$ então !$ \hat{ \sigma}^{*2} \, = \, w^2_1 \, \hat{ \sigma}^2. !$

Com base no jogo na forma extensiva apresentado abaixo, é correto dizer que:

Item 3 - O perfil de estratégias (c, ( f, h, j)) corresponde a um equilíbrio perfeito em subjogos desse jogo.

Avalie a afirmativa:

Item 3 - A equação diferencial !$ \chi \, \& \, \& \, + \, 2 \, \chi \, + \, \chi \, = \, 0 !$ tem solução geral !$ \chi(t) \, = \, (C_1 \, + \, C_2t) \, e^{-t}, !$ em que C₁ e C₂ são constantes