The amount of money a lender requires for the use of funds is called:
A. interest.
B. principal.
C. internal rate of return.
D. present discounted value.
A. interest.
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Everything else held constant, if consumption expenditure increases by 65 for a 100 increase in disposable income, the mpc is
A) 0. B) 0.5. C) 0.65. D) 1.
Between 1960 and 1995, Social Security benefits:
A. decreased from 35 percent down to 10 percent. B. increased from 10 percent to 35 percent. C. increased, decreasing the poverty rate among the elderly from 35 percent down to 10 percent. D. decreased, increasing the poverty rate among the elderly from 10 percent to 35 percent.
Competitive price-taker markets are characterized by
a. firms that all produce the same product. b. a small number of firms in the market. c. firms that are large relative to the size of the market. d. widespread use of advertising as a competitive weapon.
The competitive firm's short-run supply curve is that portion of the
a. average variable cost curve that lies above marginal cost. b. average total cost curve that lies above marginal cost. c. marginal cost curve that lies above average variable cost. d. marginal cost curve that lies above average total cost.