Suppose $X is the present value of $Y to be received next year. If you have $X and let it earn interest at r percent annually, how much money do you expect to have after one year?
a. $Y
b. $Y/(1 + r)
c. $Y(1 + r)
d. $X/(1 + r)
e. $X/r
A
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If a union succeeds in forcing employers in a perfectly competitive product market to increase wages above the equilibrium level, then the level of unemployment
A) will increase. B) will remain constant. C) will decrease. D) may increase or decrease.
When a good ends up over consumed and depleted, we can assume it is a:
A. common resource. B. private good. C. public good. D. scarce good.
A country will roughly double its GDP in twenty years if its annual growth rate is _____
a. 12 percent b. 7.5 percent c. 3.5 percent d. 2.5 percent
The equation for the demand curve in the below diagram:
A. is P = 70 - Q.
B. is P = 35 - 2Q.
C. is P = 35 - .5Q.
D. cannot be determined from the information given.