A future payment's present value is
A) the value in today's dollars of funds to be paid or received in the future.
B) the value in today's dollars of funds to be paid or received today.
C) the value in a future date's dollars of funds to be paid or received today.
D) the value in a future date's dollars of funds to be paid or received in the future.
A
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As long as wage increases do not exceed labor productivity growth rates, a stable price level should be the result
a. True b. False Indicate whether the statement is true or false
When a binding price floor is imposed on a market, a. price no longer serves as a rationing device
b. the quantity supplied at the price floor exceeds the quantity that would have been supplied without the price floor. c. only some sellers benefit. d. All of the above are correct.
A government budget deficit affects the supply of loanable funds, rather than the demand for loanable funds, because
a. in our model of the loanable funds market, we define "loanable funds" as the flow of resources available to fund private investment. b. in our model of the loanable funds market, we define "loanable funds" as the flow of resources available from private saving. c. markets for government debt are fundamentally different from markets for private debt. d. of our assumption that the economy is closed.
Using the data in the above table, what is the real GDP for year 2020 (in billions of constant dollars)?
A. 9,250 B. 7,708 C. 8,950 D. 8,500