You lend a friend $20,000 for a year at an annual interest rate of 5%. At the end of the year your friend must pay you ________ in interest.
A. $133
B. $750
C. $1,000
D. $1,900
Answer: C
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Increases in the minimum wage are intended to raise the incomes of low-income workers. Many economists favor a different policy to achieve this goal, a policy that avoids the deadweight losses that result from the minimum wage
What is this policy? A) distribution of vouchers that can be used for rent or mortgage payments B) the earned income tax credit C) the Alternative Minimum Tax D) distribution of food stamps to low-income consumers
A profit-maximizing perfectly competitive firm must decide:
A. only on which industry to join, taking price and output as fixed. B. both what price to charge and how much to produce. C. only on how much to produce, taking price as fixed. D. only on what price to charge, taking output as fixed.
In the expansion phase of a business cycle:
A. The inflation rate decreases, but productive capacity increases B. The inflation rate and productive capacity decrease C. Employment increases, but output decreases D. Employment and output increase
A market is ________ when a small number of firms compete
A) a monopoly B) perfectly competitive C) monopolistically competitive D) an oligopoly E) either monopolistically competitive or an oligopoly