If the rate at which one can borrow loanable funds is fixed at 8 percent, the marginal factor cost of employing 8 units of loanable funds is
a. zero
b. 64 percent
c. 8 percent
d. 1 percent
e. unable to determine with this information
C
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Consider the country of Outland. In Outland, people pay 10 percent of their income as a tax whether they earn $10,000 or $100,000 annually. Outland has ________ tax structure
A) a progressive B) a regressive C) a proportional D) an excessive
In 1975, wage levels in South Korea were roughly 5% of those in the United States
It is obvious that if the United States had allowed Korean goods to be freely imported into the United States at that time, this would have caused devastation to the standard of living in the United States, because no producer in this country could possibly compete with such low wages. Discuss this assertion in the context of the Ricardian model of comparative advantage.
Field (2003) claims that the period from 1929 to 1941 was the strongest period of what in U.S. history?
(a) Technological advancements (b) Monetary policy (c) Government action (d) Internationalization
After getting a raise at work, Jennie now regularly buys steak instead of hamburger. Based on this behavior, we can assume:
A. steak is a normal good, and hamburger is an inferior good for Jennie. B. steak and hamburger are - normal goods for Jennie. C. steak is an inferior good, and hamburger is a normal good for Jennie. D. steak and hamburger are complementary goods for Jennie.