Shortages prevail in the market for organ transplants at zero price
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following statements concerning efficiency is correct?
A. If a toll road is heavily used so that traffic movement is slowed, the price per vehicle should be reduced since the road is generating more revenue. B. Economists advocate high prices for abundant resources and low prices for scarce resources. C. If a toll road is heavily used and traffic movement is difficult, the price per vehicle should be increased to shift some traffic to less-crowded roads. D. All of these options are desirable in promoting efficient use of scarce road space.
Explain why the interest rate is the opportunity cost of holding currency. What is the benefit of holding currency?
Suppose a company is considering the construction of a new facility. The construction will cost $1 million today and will yield a payoff of $1.7 million in 10 years. Assuming a 5% annual interest rate, which of the following statements is correct?
a. The company should not construct the new facility because the future value of the construction cost is only $1,628,894.63. b. The company should not construct the new facility because the future value of the construction cost is $1,783,267.42. c. The company should construct the new facility because the present value of the future payoff is $1,092,734.95. d. The company should construct the new facility because the present value of the future payoff is $1,043,652.53.
Why do many prospective voters choose to watch sports on television rather than watching the news or political roundtables? In your answer, be sure to mention the role played by rational ignorance