What is the present value of a payment of $100 one year from today if the interest rate is 5 percent?
a. $95.50
b. $95.24
c. $95.00
d. None of the above are correct to the nearest cent.
b
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A persistent shortage of yen at a given fixed exchange rate (in dollars per yen) is evidence that the yen is ________ versus the dollar. This shortage can be reduced or eliminated through a ________ of the yen
A) overvalued; revaluation B) undervalued; devaluation C) overvalued; devaluation D) undervalued; revaluation
Why is time such an important determinant in the elasticity of supply? Is time also important in determining price elasticity of demand? Explain
What will be an ideal response?
Which of the following is most likely to have the strongest demand for environmental quality?
a. countries with water pollution problems b. poor countries c. countries with air pollution problems d. wealthy countries
The concept of “government failure” implies
A. laissez faire is always best. B. government intervention is always justified since government never fails. C. no market failure can be corrected by government intervention. D. government intervention to correct a “market failure” sometimes fails.