What is the future value of $1,000 in three years if the rate of discount is equal to 5 percent?
A) $1,150.00
B) $1,005.00
C) $1,157.63
D) $863.84
C
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The price index was 220 in one year and 238.2 in the next year. What was the inflation rate?
a. 8.3 percent b. 108.3 percent c. 4.8 percent d. 38.2 percent
Which of the following equations represents GDP for an open economy?
a. Y = C + I + G + NX b. NX = I - G c. I = Y - C + G + NX d. Y = C + I + G
Twin studies are helpful in producing an unbiased estimate of the returns to schooling, because twins are likely to
A. work in the same occupation. B. earn comparable wages. C. work in the same industry. D. achieve the same amount of education. E. have similar abilities.
If the quantity demanded is infinitely responsive to any change in price, the demand curve is:
A. upward sloping. B. downward sloping. C. horizontal. D. vertical.