The present value of a fixed-payment loan is calculated as the ________ of the present value of all cash flow payments
A) sum
B) difference
C) multiple
D) log
A
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If the marginal value of 1 bottle of shampoo is 4 soap bars, then
a. the absolute price of shampoo is 4 times the absolute price of a soap bar. b. trading away 1 bottle of shampoo for 4 bars of soap will not affect the consumer's level of satisfaction. c. the consumer's optimum contains 4 times as many bars of soap as bottles of shampoo. d. shampoo provides 4 times as much satisfaction to the consumer as does soap.
The demand for a necessity generally is
A) very elastic. B) infinitely elastic. C) unaffected by income. D) inelastic. E) unit elastic.
Included among the Fed's primary goals to promote a well-functioning economy are
A) high employment, low inflation, and a high foreign-exchange value of the dollar. B) price stability, economic growth, and a high reserve ratio. C) low government budget deficits, interest rate stability, and no inflation. D) a low rate of unemployment, a low and stable inflation rate, and financial market stability.
Union membership as a percentage of the civilian labor force is lower in the United States than in Germany or Japan
a. True b. False Indicate whether the statement is true or false