If the interest rate is 5 percent, then what is the present value of $2,000 to be received in three years?
The present value is $1,727.68.
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Refer to the above table. If the price of the product is $1.50, and the marginal factor cost of an additional unit of an input is $105, how many units of labor should be hired?
A) 11 B) 12 C) 13 D) 14
At the minimum wage (set above the equilibrium wage),
A) all individuals who end up working are paid less than if they were paid the equilibrium wage. B) none of the workers will lose there jobs or find themselves working fewer hours. C) none of the individuals who end up working are paid more than if they were paid the equilibrium wage. D) there will be fewer people working (or fewer labor hours demanded) than at the equilibrium wage. E) none of the above
According to the World View titled "Jeffrey Sachs: Big Money, Big Plans," how did Columbia University economics professor Jeffrey Sachs expect extreme poverty to be eliminated by 2025?
A. Rich nations must quadruple their foreign aid flows now, and poor nations need to be more accepting of help. B. Rich nations must double their foreign aid flows now and develop full-scale, comprehensive plans for the poor countries to reduce poverty. C. Rich nations must double their foreign aid flows now and then double them again in 10 years, while poor nations must develop full-scale, comprehensive plans for poverty reduction. D. Poor nations must develop full-scale, comprehensive plans for poverty reduction without the help of rich nations.
Programs designed to provide protection against unpredictable financial distress are known as:
a. social insurance programs. b. poverty programs. c. government transfers. d. negative income tax programs.