If the interest rate is 10 percent per year, and you have $100,000 now, which of the following is closest to what your $100,000 will be worth in four years?
A. $146,000
B. $125,000
C. $190,000
D. $175,000
Answer: A
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If economies of scale exist for a particular production relationship, long-run average costs will
A. rise. B. fall. C. first rise and then fall. D. be unaffected since there is no direct relationship between the two.
During the Civil War years,
a. the slight stimulus to manufacturing was startling. b. iron production for both small arms and railroads increased rapidly. c. production of boots and shoes in Massachusetts nearly doubled. d. Both b and c are correct.
Which of the following countries has the largest projected net debt as a percentage of their GDP for 2016? a. Japan b. The U.S
c. Germany d. Italy e. Australia
Which of the following conditions distinguishes perfect competition from monopolistic competition?
a. the number of sellers b. freedom of entry and exit c. homogeneity of the product d. none of the above