What is the future value of $1,000 in three years if the rate of discount is equal to 5 percent?
A. $1,157.63
B. $1,005.00
C. $863.84
D. $1,150.00
Answer: A
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It is argued that the market will
A. not produce a nonexcludable public good. B. produce the socially optimal output of a nonexcludable public good. C. produce too much of a nonexcludable public good. D. produce a nonexcludable public good if marginal social benefits are equal to marginal private benefits. E. b and d
Unemployment that occurs from fundamental technological changes in the production, or from the substitution of new goods for customary ones, is known as:
a. underemployment. b. seasonal unemployment. c. frictional unemployment. d. structural unemployment. e. cyclical unemployment.
The Federal Reserve Open Market Committee meets about ____ times a year
a. 8. b. 12. c. 4. d. 2. e. 24.
The modern view of the Phillips curve indicates that in the long run there
a. is no trade-off between inflation and unemployment. b. is a definite trade-off between unemployment and inflation. c. will be a trade-off if the rational expectations hypothesis is correct. d. may be a long-run trade-off between unemployment and inflation, but there is no such trade-off in the short run.