Suppose the cost to erect a tornado siren in a small town is $15,000 . In addition, suppose the value of a human life is $10 million. By what percentage would the siren need to reduce the risk of a fatality for the benefits of the siren to exceed the costs of the siren?
a. By at least 0.015 percentage points.
b. By at least 0.15 percentage points.
c. By at least 1.5 percentage points.
d. By at least 5 percentage points.
b
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If interest rates are positive, one dollar today is worth
A. nothing. B. more than a dollar a year from now. C. the same as a dollar a year from now. D. less than a dollar a year from now.
The opportunity cost of holding money is the
A) nominal interest rate on assets other than money. B) price of goods and services. C) level of wage and rental income. D) ease with which an asset can be converted into a means of payment.
The demand curve for loanable funds slopes down because
A) at lower bond prices more loanable funds will be supplied. B) lower interest rates reduce the inflation rate. C) an increase in the interest rate makes borrowers more willing and able to demand more funds. D) a decrease in the interest rate makes borrowers more willing and able to demand more funds.
Economic growth and development in LDCs are low because many of them lack:
a. saving. b. infrastructure. c. a political environment favorable to growth. d. All of these.