The present discounted value of $100 payable 1 year from now, assuming a market rate of interest of 10 percent, is:
A. $100.
B. $10.
C. $90.
D. slightly less than $90.
E. slightly more than $90.
Ans: E. slightly more than $90.
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Refer to the above table. What does the marginal product equal when the quantity of labor goes from 1 to 2?
a. 26 b. 92 c. 23 d. 46
Many ecologists argue that several species of whales are close to extinction. If this is TRUE, the reason is
A) inadequate enforcement of international laws. B) whales are a type of common property. C) the marginal benefit of hunting and killing a whale is greater than zero. D) whale-killing technology is too productive.
The cost borne by an individual user to switch to another network is small if the network which he is using is large
a. True b. False Indicate whether the statement is true or false
In Figure 30.2, a minimum wage of $20 will result in a
A. Shortage of 160 workers. B. Shortage of 180 hours. C. Surplus of 20 workers. D. Surplus of 32 workers.