The following table shows Jay's estimated annual benefits of holding different amounts of money.Average money holdingsTotal benefit$100$20$200$29$300$36$400$41$500$44 How much money will Jay hold if the nominal interest rate is 4 percent? (Assume he wants his money holdings to be in multiples of $100.)
A. $300
B. $100
C. $400
D. $200
Answer: C
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If the automobile workers' union successfully negotiates a wage increase for its members, how does the wage hike affect the supply of automobiles?
A) The supply increases. B) The supply decreases. C) The quantity supplied increases. D) The quantity supplied decreases. E) Both answers B and D are correct.
Refer to the scenario above. The demand for Sporty's soccer balls is 1,250 units if ________
A) the price charged by Sporty is higher than the price charged by Go! B) the price charged by Go! is higher than the price charged by Sporty C) the price charged by Sporty is equal to the price charged by Go! D) the price charged by Sporty is higher than the cost of production of each ball
Assume that an economy experiences both positive population growth and technological progress. Once the economy has achieved balanced growth, we know that the output per effective worker ratio (Y/NA) is
A) growing at a rate of 0. B) growing at a rate of gA + gN. C) growing at a rate of gN. D) growing at a rate of gA. E) none of the above
When MFC > MRP, a firm in a competitive market will
A) stop hiring additional workers. B) hire more workers. C) earn additional profits. D) layoff workers.