If Fred's annual real income rises by 8 percent each year, his annual real income will double in about:
A. 8-9 years.
B. 10-11 years.
C. 5-6 years.
D. 19-20 years.
A. 8-9 years.
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Which of the following is a characteristic of economic rent?
A. It equals economic profit minus accounting profit. B. It can never be negative. C. It can be positive, zero, or negative. D. It is driven towards zero by free entry.
The exchange rate is the price at which the ________ of one country exchanges for the ________ of another country
A) currency; goods B) goods; goods C) currency; currency D) currency; financial instruments
Credit risk refers to the probability that the issuer of a bond will fail to pay some or all of the interest or principal
a. True b. False Indicate whether the statement is true or false
Firms that survive in the long run are usually those that
A) become as large as possible. B) remain small. C) use more capital rather than more labor. D) earn the largest possible profit.