The present value of a $5,000 cash gift to be received four years in the future, given an annual interest rate of 6 percent, is (to the nearest dollar)
A) $4700.
B) $4717.
C) $6312.
D) $3960.
D
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A lower price level causes the C + I + G + X curve to shift as a result of a change in all the following EXCEPT
A) an increase in real wealth. B) an increase in foreign spending on domestic goods. C) an increase in aggregate supply. D) a decrease in interest rates.
If a firm has excess capacity, it
A) produces less than its efficient scale. B) should advertise to maximize profits. C) should decrease its markup to increase its profit. D) is a perfectly competitive firm. E) must face a horizontal demand curve.
If Bountiful Orchard grows $100,000 worth of peaches, sells $50,000 worth of peaches to consumers and uses the rest to make jam that is sold to consumers for $100,000, Bountiful Orchard's contribution to GDP is:
A. $50,000. B. $100,000. C. $200,000. D. $150,000.
In 1911, the Standard Oil Trust was ______.
a. bought by U.S. Steel b. broken up by the Sherman Antitrust Act c. merged with the American Tobacco Company d. seized by the government under the Clayton Act