If the present value of an individual's savings account is $52,354, what is its future value in 3 years if the account earns an annual interest rate of 8 percent?
A) $66,580.89
B) $66,320.48
C) $65,950.96
D) $64,589.13
C) $65,950.96
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All of the following characteristics are common to both monopolistic competition and perfect competition except
A) firms act to maximize profit. B) firms take market prices as given. C) entry barriers into the industries are low. D) the market demand curves are downward-sloping.
Compare and contrast the two normative standards to income distribution discussed in the text: The productivity standard and the egalitarian principle
What will be an ideal response?
The traditional view of the production process is that capital is subject to
a. diminishing returns, so that other things the same, real GDP in poor countries should grow at a faster rate than in rich countries. b. diminishing returns, so that other things the same, real GDP in poor countries should grow at a slower rate than in rich countries. c. increasing returns, so that other things the same, real GDP in poor countries should grow at a faster rate than in rich countries. d. increasing returns, so that other things the same, real GDP in poor countries should grow at a slower rate than in rich countries.
In Figure 32.1, at the market equilibrium price-quantity combination, the total variable cost to producers is 
A. 0HGQD. B. 0HCQ*. C. 0ABQD. D. 0HEQS.