Jarrod says that the future value of $250 saved for one year at 6 percent interest is less than the future value of $250 saved for two years at 3 percent interest. Simon says that the present value of a $250 payment to be received in one year when the interest rate is 6 percent is less than the value of a $250 payment to be received in two years when the interest rate is 3 percent
a. Jarrod and Simon are both correct.
b. Jarrod and Simon are both incorrect.
c. Only Jarrod is correct.
d. Only Simon is correct.
c
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Which of the following provides the clearest example of human capital?
A) Automated equipment that can be used without any accompanying human labor B) Corporate stock owned by individuals and families rather than institutions such as mutual funds or corporations C) Machinery that has been designed and constructed by human beings D) Tools that cannot be used effectively except in combination with workers E) The ability to read
Suppose that nominal GDP in 2016 was less than real GDP in 2016. Given this information, we know for certain that
A) real GDP in 2016 was greater than real GDP in the base year. B) the price level in 2016 was less than the price level in the base year. C) real GDP in 2016 was less than real GDP in the base year. D) the price level in 2016 was greater than the price level in the base year.
Samia has decided that with the two hours in between classes she can do one of 3 things. She has ranked her choices, from highest to lowest as, (1 ) chat with her friends, (2 ) study economics or (3 ) take a nap
The opportunity cost of chatting with her friends is A) the combined value of studying economics and taking a nap. B) the value of studying economics, the next best use of time. C) the value of chatting with her friends. D) zero since she does not pay her friends to talk to her.
Participating nations in the 1997 Kyoto Protocol agreed to reduce overall greenhouse gases emission through 2020 to
A) as much as 20 percent below the levels in the 1990s. B) as much as 5 percent below the levels in the 1990s. C) as much as 50 percent below the levels in the 1990s. D) as much as 50 percent below the levels in the 1960s.