If Nate takes out a $5,000 loan for one year at 10 percent annual interest, the principal is:
A. $5,000.
B. $5,500.
C. $500.
D. $1000.
A. $5,000.
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If the price elasticity of demand is greater than 1, a monopoly's
A) total revenue increases when the firm lowers its price. B) total revenue decreases when the firm lowers its price. C) marginal revenue is negative. D) marginal revenue is zero.
The country of Old Jersey produces milk and butter, and it has published the following macroeconomic data, where quantities are in gallons and prices are dollars per gallon. Between Year 1 and Year 2, nominal GDP grew by
A) 60.0%. B) 65.5%. C) 83.3%. D) 190.0%.
All of the following illustrate how government can correct for positive externalities EXCEPT
A) subsidies. B) regulation. C) government financing and production. D) charging effluent fees.
One outcome of the creation of the Federal Deposit Insurance Corporation was the reduction of moral hazard problems
Indicate whether the statement is true or false