The present value of $525 received one year from today, assuming an annual rate of return of 5 percent is
a. $551.25 b. $525 c. $500 d. none of the above
c. $500
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If the demand for a good is price inelastic and the good price is increased, then the marginal revenue (MR) received by the seller will
A) not change. B) decrease. C) increase. D) Cannot be determined from this information
The regulation of natural monopolies is common in which of the following industries?
A. Electricity B. Oil C. Tobacco D. Alcohol
The estimated cost of automobile jobs saved due to limitations on foreign autos is $105,000 per job. Why is there a cost to saving jobs through protectionism?
Government assistance to the poor in the United States
A. has eliminated poverty in the nation. B. is available to all persons whose income is below the poverty income threshold. C. is available in most cases only to the poor who are elderly, disabled, or families with children. D. is always in the form of cash.