As a student, one of the costs of sleeping in rather than going to class is likely to be a lower grade in the class
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following statements about price elasticity of demand is false?
A) The value of the price elasticity of demand along a downward-sloping demand curve is always negative. B) If quantity demanded changes by a larger percentage than the percentage change in price, demand is elastic. C) The value of the price elasticity of demand is the reciprocal of the value of the demand curve's slope. D) A linear downward-sloping demand curve has a varying price elasticity coefficient.
The costs in time and other resources that parties incur in the process of agreeing to and carrying out an exchange of goods or services are called
A) selling costs. B) exchange costs. C) transactions costs. D) implicit costs.
Suppose $100 is deposited in a bank account paying 5% compounded annually. If the interest earned is X after five years, then the interest earned will be 2X after 10 years
Indicate whether the statement is true or false
Suppose you win a small lottery and you are given the following choice: You can (1) receive an immediate payment of $10,000 or (2) three annual payments, each in the amount of $3,600, with the first payment coming one year from now, the second two years from now, and the third three years from now. You would choose to take the three annual payments if the interest rate is
a. 2 percent, but not if the interest rate is 3 percent. b. 3 percent, but not if the interest rate is 4 percent. c. 4 percent, but not if the interest rate is 5 percent. d. 5 percent, but not if the interest rate is 6 percent.