If your broker tells you that a trust to which you are a beneficiary has changed, and instead of getting $5000 per year starting next year, you will be getting $4000 per year starting next year, the present value to you has
A. risen.
B. remained unchanged.
C. necessarily become more predictable.
D. fallen.
Answer: D
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Suppose bad weather in Florida unexpectedly results in a much smaller citrus crop than had been projected. This would cause the ________ labor to pick citrus fruit in Florida to ________
A) supply of; decrease B) demand for; decrease C) supply of; increase D) demand for; increase
"A monopolist can charge whatever price it wants." Do you agree or disagree? Why?
What will be an ideal response?
Stating that income elasticity of demand for potatoes equals 0.15 is equivalent to stating that if income
A) decreases by 10 percent, potato purchases decrease by 1.5 percent. B) increases by 10 percent, potato purchases increase by 15 percent. C) decreases by 1.5 percent, potato purchases decrease by 10 percent. D) increases by 15 percent, potato purchases decrease by 10 percent. E) none of the above
Consider an economy made up of 100 people, 60 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The number counted as unemployed is:
A. 10. B. 15. C. 40. D. 30.