The ________ the time period, the ________ is the present value of a given future payment, all other things held constant.
a. longer; lower
b. shorter; lower
c. longer; higher
d. shorter; the more uncertain
a. longer; lower
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Use the following graph, where Sd and Dd are the domestic supply and demand curves for a product, to answer the next question.
The world price of the product is $6. If an import quota of 40 units is imposed on the product, then the equilibrium price would be_____ and the quantity consumed would be ________ units.
A. $6; 80 B. $12; 50 C. $10; 60 D. $8; 70
If the number of people unemployed is 100, the number of people employed is 1000, and the working-age population is 1400, then the labor force is
A) 1000. B) 1100. C) 1400. D) 1500.
The table above shows sales of the firms in the chocolate industry. What type of market is this?
A) perfect competition B) monopolistic competition C) oligopoly D) monopoly
Given the following figures, by approximately what percentage did Michael's real income increase between 2008 and 2009? Michael's 2008 money income = $60,000 Michael's 2009 money income = $72,000 2008 CPI = 120.0 2009 CPI = 128.0
a. zero b. 6.7 percent c. 12.5 percent d. 20 percent