A monthly growth rate of 0.6% is an annual growth rate of:
A. 7.60%
B. 7.44%
C. 6.00%
D. 7.20%
Answer: B
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Without externalities, _____
a. private costs equal social costs b. private benefits exceed social benefits c. private costs are greater than social costs d. private benefits are lesser than social benefits
Refer to the scenario above. The time value of the amount deposited is:
A) $300. B) $1,000. C) $1,300. D) $2,300.
The cross elasticity of demand is
A) the percentage change in the demand of one good divided by the percentage change in price of another good. B) the change in the price of one good divided by the change of quantity demanded of another good. C) the percentage change in the quantity demanded of one good divided by the percentage change in the quantity demanded of another good. D) the percentage change in the price of one good divided by the percentage change in the price of another good.
Let the marginal product of labor and capital be denoted by MPL and MPK respectively. The price of labor and capital are given by PL and PK respectively. Which of the following equations gives the condition for producing a given level of output at the least cost combination of inputs?
a. PL × PK = MPL × MPK b. PL × MPL = PK × MPK c. MPL ÷ PK = MPK ÷ PL d. PL ÷ PK = MPL ÷ MPK