You win a lottery that pays $50,000 each year for the next 10 years beginning next year. How much are your winnings worth today?
A. $0
B. $50,000
C. $500,000
D. indeterminate with the given information
Answer: D
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What are some of the forms that central planning has taken in developing nations today?
What will be an ideal response?
Which of the following is least likely to increase the ratio of investment to real GDP? A reduction in ________
A) transfer payments B) subsidies to farms and corporations C) defense outlays D) spending on highways
If a profit-maximizing firm’s fixed cost of producing widgets falls,
A. its total cost curve is unaffected. B. its marginal cost curve shifts down. C. the firm will produce more widgets. D. the firm’s average profit per widget produced rises.
If a firm is experiencing diminishing marginal returns to labor, then
a. total output must be decreasing b. total output rises more slowly as additional workers are added c. the firm must decrease the amount of labor it hires d. total output per worker must be rising e. the firm must be operating in the long run