When discounting money, the higher ________ ________ , the lower the present value?
a. future value
b. interest rate
c. demand for money
d. discounting factor
b
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In equilibrium, rent seeking eliminates the
A) deadweight loss. B) economic profit. C) consumer surplus. D) demand for the product. E) opportunity to price discriminate.
In the short run, a monopolist will shut down when
a. average total cost is greater than price at all output levels b. average variable cost is greater than average fixed cost at all output levels c. price is greater than average variable cost at all output levels d. average fixed cost is greater than price at all output levels e. average variable cost is greater than price at all output levels
According to evidence from around the world, the real losers in globalization of the world economy are:
a. non-government organizations. b. environmental activists. c. skilled laborers in the globalizing nations. d. countries that have not participated in the globalization process. e. the poorest people in the globalized developing countries.
A farmer has 1,000 acres on which he has previously grown corn. His yield per acre is 100 bushels of corn. If the corn payment rate is $0.43 a bushel, his production flexibility contract payment equals
A) $39,600. B) $43,000. C) $36,550. D) $12,345. E) none of the above