If the amount payable in two years is $2420 for a simple loan at 10 percent interest, the loan amount is
A) $1000.
B) $1210.
C) $2000.
D) $2200.
C
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"I'm telling you, instead of charging $50 each, they could give the opera tickets away for free, and I myself still wouldn't go—ever!" What can we say about this person's demand for opera tickets?
A) His price elasticity is infinite, which means his demand curve is upward sloping. B) His price elasticity is exactly equal to 1, which means his demand curve is unit elastic. C) His price elasticity is exactly equal to 50, which means his demand curve is very elastic. D) He doesn't have a demand for opera tickets.
A point on a production possibilities curve indicates
A) resources are not being used efficiently. B) resources are being used efficiently. C) opportunity costs are constant. D) an output combination that can be attained only if society gets more resources or there is technological change.
Under the non-strategic view of bargaining, the terms of agreement are determined by
a. The rules of the game b. The alternatives to agreement c. The precise form of negotiations d. All of the above
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
According to the graph shown, if this economy were to open to trade, the amount consumed domestically would:
A. decrease by 40. B. increase by 40. C. increase by 35. D. increase by 75.