1. A convertible bond is often utilized for all of the following, EXCEPT
2. To sell common at prices higher than those prevailing when funds are needed. When there is no demand for straight debt. A company must always issue a certain amount of convertible bonds
3. A disadvantage to the investor of a convertible bond is all of the following, EXCEPT that4. If interest rates rise, the pure bond value (floor price) will decline. The interest rate on convertibles is generally one-third below the coupon rate on straight bonds of similar risk. All bonds are callable at a specific price above par
5. A particular country's pattern of importing more than is being exported is likely to6. Depress other countries' currencies. Increase the value of that country's currency. Have no effect on that country's currency.
7. If the income elasticity for lobster is .6, a 25% increase in income will lead to a 
A. 6% drop in demand for lobsterB. 2.4% increase in demand for lobsterC. 15% increase in demand for lobsterD. 42% increase in demand for lobster