The mathematics of amortization for mortgage loans must utilize the
A. payment frequency.
B. payment frequency and the period of time over which the debt will be repaid.
C. period of time over which the debt will be repaid.
D. structure of marginal tax rates.
Answer: B
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Answer the following statement(s) true (T) or false (F)
1. When using a damage function, incremental benefits are measured as a vertical distance of total damages (TD) associated with a decrease in some contaminant (C). 2. The averting expenditure approach is favored by researchers because it can capture both existence and user value. 3. The contingent valuation method is so called because it is contingent upon the hypothetical market that serves as the context for the survey. 4. The benefit estimation method that relies on goods that are complements to environmental quality is the averting expenditure method. 5. A known problem associated with the averting expenditure method is jointness of production, which refers togoods that provide services beyond those that improve the environment.
Comment on the following statement: "When firms are earning positive profits, the industry supply curve will shift to the right."
What will be an ideal response?
When a production function exhibits a diminishing, but positive, marginal product of labor,
a. output increases, but at an increasing rate, as more workers are employed. b. output increases, but at a decreasing rate, as more workers are employed. c. output declines as more workers are employed. d. the effects on marginal product are ambiguous.
What kind of costs remain the same regardless of the level of production?
A. Total B. Fixed C. Marginal D. Variable