You are expecting to receive $3,500 at some time in the future. Which of the following would unambiguously increase the present value of this future payment?
a. Interest rates rise and you get the payment sooner.
b. Interest rates rise and you have to wait longer for the payment.
c. Interest rates fall and you get the payment sooner.
d. Interest rates fall and you have to wait longer to get the payment.
c
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If every firm is a price taker, then which of the following characteristics does their industry have?
a. large number of sellers b. many versions of the product c. limited resource mobility d. few consumers e. market power
The three main crops of the nation from the end of the Civil War to the turn of the century (1900) were (1) ______, (2) __________; and (3) _________.
Fill in the blank(s) with the appropriate word(s).
Figure 2-7
Which of the following could explain the shift in the production possibilities frontier from AB to AC in ?
a.
a productive improvement in petroleum production that has no effect on clothing production
b.
a productive improvement in clothing production that has no effect on petroleum production
c.
an increase in the size of the labor force that can produce either petroleum products or clothing
d.
oil drilling in Alaska is ended in order to protect the environment
e.
major oil reserves are discovered off the coast of Africa
Expansionary monetary policy involves actions that:
A. increase the money supply in order to decrease aggregate demand. B. increase the money supply in order to increase aggregate demand. C. reduce the money supply in order to decrease aggregate demand. D. reduce the money supply in order to increase aggregate demand.