What is the present value of $888 in a one year if the current rate of interest is five percent?
A) $4,440 B) $845.71 C) $177.60 D) none of these
B
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An economic model suggests that for every additional year of education, the future wages increase by 5 percent
If Richard, with 12 years of education, earns $20 per hour, how much will he earn per hour if he decides to undertake four additional years of education?
The data points on a supply curve come from
A) survey analysis. B) the same place from which we get the data points on a demand curve. C) the supply schedule. D) companies' annual reports.
Mary is a homemaker while husband Jack works at the warehouse. The minimum salary Mary would take for a market-related job is $15,000 . She is offered a job at the office next to the warehouse for $25,000 . which she takes. Mary receives
a. $10,000 in differential rent b. $25,000 in wage-related rent c. $15,000 in wage-related rent d. $15,000 in differential rent e. $10,000 in wage-related rent
When the rate of growth of per capita income of poorer countries is higher than that of richer countries, it leads to economic convergence
a. True b. False Indicate whether the statement is true or false