The ________ the future payment, the ________ its present value, all other things held constant.
a. smaller; the more uncertain is
b. bigger; smaller
c. bigger; greater
d. smaller; greater
c. bigger; greater
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The fees physicians charge patients are most closely related to the physicians' cost of
A) acquiring a medical degree. B) earning a target income. C) maintaining their practice. D) spending time with patients.
Saving is a leakage from the circular flow. Why didn't the classical economists think saving might cause consumption expenditures to fall short of total output?
What will be an ideal response?
Economists most often disagree over positive rather than normative economic issues
a. True b. False Indicate whether the statement is true or false
A pure private good is one
a. that is nonrival and nonexcludable b. that is rival but excludable c. that is rival and excludable d. that is nonrival but excludable e. one whose production imposes a cost on third parties