Which of the following defines the face value of a bond?
a. The amount that the bond issuer agrees to pay the investor
b. The rate of return a bond is expected to pay at the time of purchase
c. The current price of a bond at a given time
d. The interest rate paid on a bond either annually or semi-annually
a. The amount that the bond issuer agrees to pay the investor
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The following price-quantity coordinates for gold used by U.S. dentists were observed: P = $875/ounce, Q = 342,000; P = $200/ounce, Q = 706,000. These points most likely lie along the
A. supply curve for gold for dental use. B. demand curve for dental use. C. equilibrium curve for dental use. D. production possibilities curve for dental use.
If one adopts a pure free-market approach to depletable resources, then one can expect the price of resources to
A. rise steadily. B. fall steadily. C. fluctuate in a random-walk fashion. D. remain unchanged.
Refer to the payoff matrix below. In reference to the Nash equilibrium/equilibria in this game, which of the following is true?
Camp with Us and Happy Campers compete in the market for campers. Each firm must decide each season if they are going to offer special financing or not. The above payoff matrix shows each firm's net economic profit at each pair of strategies.
A) There is one Nash equilibrium in this game.
B) There are two Nash equilibria in this game.
C) There are no Nash equilibria in this game.
D) There are three Nash equilibria in this game.
What is the marginal revenue from producing the fourth unit?
a. 90 b. 50 c. 20 d. 180