Knowing how to translate between present and future value can be useful when:
A. the benefits and opportunity cost occur at different times.
B. there are no benefits and costs.
C. there are benefits and costs occurring at the same time.
D. the current costs are higher than the present benefits.
Answer: A
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If an item has several good substitutes, the demand curve for that item is likely to be
A) relatively inelastic. B) relatively elastic. C) perfectly inelastic. D) unit elastic.
In a system of managed or fixed exchange rates, the controlling
a. is performed by the central banks of the trading nations. b. consists of making adjustments in the gold content of the different currencies. c. is usually done by actions of the IMF. d. involves changing the official exchange ratio between different kinds of money.
Trade restrictions
A. Increase the standard of living for the country as a whole. B. Reduce the number of hours employees must work. C. Reduce the gains from trade for the country as a whole. D. Increase the gains from trade for poor countries.
A decrease in business taxes will tend to:
a. Increase aggregate demand but not change aggregate supply b. Increase aggregate demand and increase aggregate supply c. Decrease aggregate supply and decrease aggregate demand d. Increase aggregate supply but not change aggregate demand