What is the present value of a payment of $250 one year from today if the interest rate is 4 percent?
a. $240.38
b. $242.24
c. $244.40
d. None of the above are correct to the nearest cent.
a
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The supply of money in the U.S. economy is determined primarily by
A) the demand for money in the economy. B) the actions of the Federal Reserve and the banking system. C) decisions made by the Federal Reserve and the U.S. Treasury. D) consumers and the banking system.
Refer to the following graph.
An indifference curve with a constant marginal rate of substitution is shown by:
A. A. B. B. C. C. D. D.
Answer the following statements true (T) or false (F)
1. If the decrease in supply is less than the decrease in demand, then the equilibrium price will decrease. 2. A price ceiling imposed by the government is intended to benefit the sellers of the product. 3. An effective price ceiling will lower the equilibrium price and cause a surplus. 4. In response to the general public's complaints about "price gouging" by sellers, the government could impose a price floor.
According to Edward Chamberlin, is the "differentness" of products a waste of resources? Explain
What will be an ideal response?