If the interest rate is 5 percent (0.05) per year, what is the present value of $3,000 to be received two years from now?
a. $2,850.00
b. $3,000.00
c. $2,707.50
d. $2,721.09
e. $2,857.14
D
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If a consumer in UK buys a camera from a manufacturer in the U.S., everything else remaining unchanged, ________
A) the UK's net factor payment from abroad will fall B) there will be a deficit in U.S.'s financial account C) the U.S.'s net exports will increase D) the U.S.'s net transfer payment will increase
Absolute poverty measures vary from country to country. For example, in 2015, the poverty line in the United States for a family of four with two children
was an annual income of $24,250 but economists often use a much lower threshold income of $1 per day when calculating the rate of poverty in poor countries. How is this absolute poverty measured? A) by comparing the amount of goods and services that a household's income can purchase in one country to the amount of goods and services that a household's income can purchase in another country of comparable living standard B) by comparing the amount of goods and services that a household's income can purchase to an objective measure of the amount of income needed to sustain a certain predetermined standard of living C) by comparing the percentage of households living below the poverty line to the total population D) by comparing a household's income to the income required to maintain the average standard of living in a society at a particular time
The United States suffers more from strikes than Japan but fewer strikes than Canada
a. True b. False Indicate whether the statement is true or false
Which of the following best explains why economists are generally critical of unregulated monopolists?
a. Monopolists do not try to minimize their costs of production. b. Monopolists produce where marginal revenue is greater than marginal costs. c. Monopolists attempt to produce too many products, and as a result, their prices are high, and consumers waste time trying to choose between too many options. d. Monopolists restrict output, and as a result, they fail to produce units that are valued more than the marginal cost of producing them.