If i is the yield to maturity of a fixed-payment loan,
A) the value of the loan today equals i times the sum of the values of all the loan payments.
B) i equals the present value of the loan payments.
C) the value of the loan today equals the sum of the values of the loan payments.
D) the value of the loan today equals the present value of the loan payments discounted at rate i.
D
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Successful adjustment to external imbalance is likely to involve
a. expenditure-reducing policies b. expenditure-switching policies c. import compression d. devaluation of the national currency e. all of the above
Marginal revenue is
a. the change in total revenue obtained by selling an additional unit of output b. average revenue per unit of output c. the change in total revenue per unit of cost d. total revenue divided by average revenue e. average revenue divided by marginal cost
If a savings account pays 3.5% interest, then according to the rule of 70 how long will it take for the account balance to double?
The absolute value of the slope of the production possibilities curve is the
A. marginal rate of substitution. B. contract curve. C. offer curve. D. Engel curve. E. marginal rate of transformation.