If the interest rate is 10 percent per year, and you have $100,000 now, which of the following is closest to what your $100,000 will be worth in four years?
A) $175,000
B) $125,000
C) $146,000
D) $190,000
C
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In long-run competitive equilibrium, the perfectly competitive firm produces where price equals minimum average total cost
a. What is this efficiency criterion called? b. How does it benefit consumers?
Suppose that a small economy that had previously been closed becomes open. If its real interest rate had previously been below the world real interest rate, we would expect that
A) the country's real interest rate would remain below the world level. B) the country would become a net lender abroad. C) the country would become a new borrower abroad. D) the amount of loanable funds supplied in the country would decline.
Consider the game tree in Figure 12.8. If Store B's payoff in the second rectangle from the top were $250 instead of $100, the outcome of the game will be that:
A. both stores choose to advertise. B. both stores choose not to advertise. C. Store A chooses to advertise but Store B chooses not to advertise. D. Store B chooses to advertise but Store A chooses not to advertise.
Product differentiation always exists in
A. oligopoly. B. monopolistic competition. C. perfect competition. D. monopoly.