If the annual interest rate is 0 percent, the present value of receiving $1.10 in the next year is:
A. $1.00.
B. $1.11.
C. $1.10.
D. $1.01.
Answer: C
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Which of the following statements is false?
A. Greater distance reduces the likelihood of migration B. Greater stocks of human capital result in greater personal productivity and earnings C. The majority of international migrants move to countries relatively close to their home countries D. Implicit costs of migrating are not affected by distance
Suppose you hear Professor I.M. Dismal say, "There is no substitute for carefully reading your textbook!" In the real world, students
A) will always and absolutely obey their professor's orders. B) will purchase the textbook regardless of its price. C) will often find what they believe are useful substitutes for reading the text. D) will have a vertical demand curve for textbooks.
The value of the four-firm concentration ratio that many economists consider indicative of the existence of an oligopoly in a particular industry is
A) anything greater than 10 percent. B) anything greater than 40 percent. C) anything greater than 30 percent. D) anything greater than 20 percent.
Today the greatest number of poor are _________ Americans, but the poverty rate for __________ Americans is higher.
A. white; black and Hispanic B. black; white C. black; Hispanic D. white; Hispanic