The long-run supply curve for a competitive, decreasing-cost industry is downward sloping.
Answer the following statement true (T) or false (F)
True
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In a state-run lottery, where winners are paid in annual installments
a. the present value of the payments is less than the number of dollars won b. the future value of the winnings is less than the number of dollars won c. the present value of the payments is greater than the number of dollars won d. the winner would prefer the annual installments to a lump sum payment made immediately e. none of the above is correct
A country should export the goods in which it has an absolute advantage
a. True b. False Indicate whether the statement is true or false
Which of the following is an example of the bequest motive for saving?
A. Gerry and Terry put $2,000,000 in a trust fund that will go to their children when they die. B. Pat puts $400 per month in his 401(k) retirement account. C. Jordan sets aside $200 per month in case she has to pay for a new roof for her house. D. Chris keeps $15,000 in a money market account to pay expenses in case he loses his job.
In the one-period valuation model, an increase in the required return on investments in equity
A) increases the expected sales price of a stock. B) increases the current price of a stock. C) reduces the expected sales price of a stock. D) reduces the current price of a stock.