31) The 1999 repeal of the Glass-Steagall act a) Allowed the Fed to limit the exposure of the Central Bank to excessive fiscal budget deficits b) Allowed the Fed to operate outside of U.S. Government oversight c) Allowed International banks access to the U.S. market d] Allowed mergers of commercial and investment banks 32) The efficient market hypothesis suggests that a) stocks follow a random walk process b) people follow adaptive expectations in market speculation c) diversified portfolios protect an investor from unexpected events d the stock market is immune to asymmetric information inefficiencies 33) Which of the following statements is inconsistent with the Canadian dollar depreciating relative to the Indian Rupee (all else equal)? a) The Indian exchange rate increases from o.2 to 0.25 b) Indian exporters and Canadian consumers are both better off c Indian assets rise in value relative to equivalent Canadian assets. d A rupee can buy more Canadian dollars than previously 34) A Chinese Yuan buys 20 Canadian cents. The price level in Canada is $100 and the price level in China is 400 Yuan. What is the Canadian real exchange rate? a) 1.25 b) 1.2 c) 1 d) 0.8 35) Which of the following will cause the Canadian real exchange rate with Mexico to fall? a) The Mexican price level falls b) The Canadian price increases c) The number of dollars necessary to buy a peso decreases d None of the above