If the interest rate is 8 percent, a person who is offered the opportunity to buy an annuity paying $30,000 per year forever should
a. do so if the price is greater than $375,000
b. do so if the price is less than $375,000
c. be willing to pay only $37,037 for it
d. be willing to pay $77,037 for it
e. be willing to pay no more than $300,000 for it
B
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Which of the following is likely to lead to a right shift in the supply curve for labor in an industry?
A) The introduction of labor-saving technology B) A decrease in the opportunity cost of leisure C) An increase in the number of immigrants from foreign countries D) The introduction of labor-complementary technology
The price elasticity of demand for gasoline is estimated to be -0.2. Two million gallons are sold daily at a price of $1. Use this information to calculate a demand curve for gasoline assuming it is linear
What will be an ideal response?
To examine a real-world issue, economists look at the real-world results to see how they differ from those of a free market
a. True b. False Indicate whether the statement is true or false
Crowding out refers to the effect that:
A. C and I are indirectly affected by changes in G. B. C is directly affected by changes in G. C. C and I are directly affected by changes in G. D. C and I are completely unrelated to changes in G.