What is the future value of $500 one year from today if the interest rate is 6 percent?
a. $515
b. $520
c. $530
d. None of the above is correct.
c
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When Kathryn spends her entire budget and equates marginal utility per dollar across all goods, then Kathryn's total utility is maximized
Indicate whether the statement is true or false
To state that the resources of the economy are finite implies that
a. we cannot live without them b. we always want more of them c. they are nonrenewable d. at least some of them are renewable e. there is a fixed quantity of them at any point in time
Producing where P = MC does not yield an optimal distribution of resources when externalities are present because
a. neither price nor marginal cost reflect the social costs or social benefits of production and consumption; that is, the costs and benefits to society b. while price still accurately measures benefits, marginal cost no longer measures the cost of resources to society c. while marginal cost accurately measures cost, price no longer measures the true social value of the goods produced d. output would always be higher than optimal e. output would always be lower than optimal
The organization structure where a group performing a specialized task reports to a manager in that same area
a. functional b. line and staff c. product d. matrix