Homework Assignment Chapter 15 15. What is dollar-cost averaging? If you were a particularly astute investor at timing moves in the market, would you want to use dollar-cost averaging? Chapter 19 8. Are foreign markets likely to be more or less efficient than U.S. markets? What effect does this have on bid-ask spreads and the ability to absorb large transactions? 3. Assume you invest in the Japanese equity market and have a 25 percent return (quoted in yen). However, during the course of your investment, the yen declines versus the dollar. By what percentage could the yen decline relative to the dollar before all your gain is eliminated? Chapter 20 4. What two factors have hurt real estate in recent times? Why might the future outlook be more positive? 12. What are some factors that drive up the price of gold? What are factors that drive it down? Answer the following items from your textbook. • • 4 Discussion Question 15 • Chapter 19 Discussion Question 8 • Chapter 19 Problem 3 • Chapter 20 Discussion Question 4 • Chapter 20 Discussion Question 12