What is the future value of $1,000 after six months earning 12% annually?
A. $1,050.00
B. $1,058.30
C. $1,060.00
D. $1,120.00
Answer: B
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Proprietors' income is a component of which approach to measuring GDP?
A) incomes approach B) expenditure approach C) cost approach D) output approach
When a good is made illegal, which of the following definitely results in the price rising?
A) a much higher fine on sellers than on buyers B) a much higher fine on buyers than on sellers C) any fine imposed on both buyers or sellers D) any fine imposed on buyers
Optimal decisions are made on the basis of
A. rate of growth in total profit. B. average cost and average revenue figures. C. impact on market share. D. marginal cost and marginal revenue figures.
Unlike the situation for a firm in perfect competition, positive economic profit exists for firms in monopolistic competition for both the short run and in the long run.
Answer the following statement true (T) or false (F)