The trend in current tariff laws is to
A. keep tariffs the same.
B. raise tariffs on foreign goods.
C. abolish tariffs all together.
D. lower tariffs on foreign goods.
Answer: D
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Refer to the figure above. Assuming that the market consists of only these two consumers, what is the market demand for pens when the price is $4?
A) 15 units B) 25 units C) 40 units D) 65 units
If a perfectly competitive firm is producing at a quantity at which MC < AVC, it cannot be maximizing profit in the short run
a. True b. False
On the Internet you find the following offers for opening an online account. Which of them is the best offer if you have $5,000 to save for two years?
a. an interest rate of 5 percent, with the bank charging you a $50 processing fee at the time you open your account b. an interest rate of 4 percent, with the bank giving you a $65 bonus at the time you open your account c. an interest rate of 3.5 percent, with the bank giving you a $100 bonus to open your account d. an interest rate of 4.5 percent, with no processing fee and no bonus
What is the present value of a payment of $1,000 two years from now if the interest rate is 6%?
a. $2,000/1.06 b. $1000/(1.06)2 c. $1000/(1 + 0.062) d. None of the above are correct.