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The rental rate approach to investment choices by firms and the present value approach
a. always agree. b. agree only if depreciation is 0. c. agree only if the price of equipment does not change. d. agree only when inflation rates are zero.
If r is the required reserve ratio, which of the following is the simple money multiplier?
a. r b. 1/(1 – r) c. 1 – r d. 1/r e. 2r
Refer to Table 10.1. If the price of output is $2 per unit and we observe the firm hiring six workers, if the firm is maximizing profit, the wage rate must be between ________ and ________.
A. $20; $40 B. $30; $50 C. $40; $60 D. $500; $600
When renters are faced with higher rent demands by landlords, they
A. can move, but such a move costs renters time and money. B. must simply pay the higher rent, having no alternatives. C. can move costlessly, thereby escaping the higher rent. D. must ask permission of their landlord to leave.