What is the present value of $1,000 to be received 2 years in the future with an interest rate of 8 percent?
A) $857.34
B) $925.93
C) $1080.00
D) $1166.40
A
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In the 2-factor, 2 good Heckscher-Ohlin model, trade will ________ the owners of a country's ________ factor and will ________ the good that uses that factor intensively
A) benefit; abundant; export B) harm; abundant; import C) benefit; scarce; export D) benefit; scarce; import E) harm; scarce; export
Because resources are scarce,
a. opportunity costs are zero b. people must make choices among alternatives c. all human wants and desires can be satisfied d. resource prices are fixed e. commodities are free
All mutually beneficial trades have taken place. This implies that
A. economic efficiency prevails in the society. B. society is on the constant cost portion of its production possibilities curve. C. the production possibilities curve is bowed out. D. society is inside the production possibilities curve.
Refer to the information provided in Table 6.1 below to answer the question(s) that follow. Table 6.1Number of Hamburgers per DayTotal UtilityMarginal Utility130?252?367?476?5?4Number ofSodas per DayTotal UtilityMarginal Utility120?235?347?457?5?7Refer to Table 6.1. The total utility of five sodas per day is
A. 35. B. 64. C. 92. D. indeterminate from this information.