In general the present value of $1,000 received in the future will
A. be independent of the market rate of interest.
B. be lower the higher the market rate of interest.
C. be lower the lower the market rate of interest.
D. worth the same whether received one year from today or two years from today.
B. be lower the higher the market rate of interest.
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Refer to Figure 11.2. Suppose that Ca = 40, MPC = 0.8, I = 10. Equilibrium income is
A) 40. B) 50. C) 250. D) 400.
Refer to Scenario 14.1. Lisette's dominant strategy will give her a net benefit of
A) $45. B) $75. C) $120. D) $150.
The value of the absolute price elasticity of demand for good X is 4. The absolute price elasticity for good Y is 1. Which good's quantity demanded is more responsive to a change in price?
A) Good X B) Good Y C) They are equally responsive. D) Not enough information is given.
The use of hospitals today is dominated by
A. immigrants. B. obstetrical care. C. the wealthy. D. the elderly.