The value of a future amount expressed in today's dollars is
A) the interest rate.
B) present value.
C) the discount rate.
D) the inflation rate.
Answer: B
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Refer to Figure 15-18 to answer the following questions
a. What quantity will this monopoly produce and what price will it charge? b. Suppose the government decides to regulate this monopoly and imposes a price ceiling of $25. Now what quantity will the monopoly produce and what price will it charge? c. Will every consumer who is willing to pay the ceiling price of $25 be able to buy the product? Briefly explain.
If demand is inelastic and the price of a product decreases by 10 percent, then
A) the change in quantity demanded is less than 10 percent. B) the change in quantity demanded is equal to 10 percent. C) the change in quantity demanded is greater than 10 percent. D) the decrease in quantity demanded is greater than 0 percent.
The U.S. Lorenz curve today is closer to the perfect equality line than in 1929
a. True b. False Indicate whether the statement is true or false
A collusion occurs when: a. firms act together to increase industry output. b. firms act together to decrease industry price. c. firms act together to earn normal profits
d. firms act together to increase social welfare.