A sum of money to be received in the future is worth more than a sum of money today.
Answer the following statement true (T) or false (F)
False
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Refer to Scenario 12.1. Suppose that a third friend, Ryan, joins Simon and Paula on their way home from school, and this reduces the probability of any particular individual from stepping forward to help the man being attacked from 70% to 40%
What is the probability of either Simon, Paula, Ryan, or any combination of the three trying to rescue the man? A) 28.8% B) 49.6% C) 78.4% D) 93.6%
Countercyclical fiscal policy refers to
a. any fiscal policy that cycles between budget surpluses and budget deficits b. the use of taxes and government spending to keep the economy close to potential GDP in the short run c. any fiscal policy that is employed during a business cycle d. the use of open market purchases of bonds to keep the economy close to potential GDP in the short run e. the use of changes in tax rates to keep the economy at potential output in the long run
If the Japanese government enters the foreign exchange market and sells yen to attain a specific exchange rate with the dollar, the dollar will ________ and the yen will ________.
A. depreciate; depreciate B. depreciate; appreciate C. appreciate; depreciate D. appreciate; appreciate
A dedicated professor loves being in the classroom and would teach for $50,000 per year, but she is actually paid $80,000 per year. This individual
A. receives economic rent of $30,000. B. has an opportunity cost of $30,000. C. receives economic rent of $130,000. D. has an opportunity cost of $130,000.