What is the present value of $500.00 to be paid in two years if the interest rate is 5 percent?
A) $453.51
B) $500.00
C) $476.25
D) $550.00
A
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The market demand curve in perfect competition is found by
A) horizontally summing the supply curves of the individual firms in the industry. B) horizontally summing the demand curves of the individual consumers. C) utility maximizing behavior of the "representative consumer." D) the interaction of supply and demand at the individual firm and consumer levels.
Excess supply in an unregulated market will cause the price of a product to fall.
Answer the following statement true (T) or false (F)
Figure 10.6 shows prices, demands, and cost data for the only restaurant in a small town. If the restaurant charges the single price of $8 per meal, what is its profit from senior customers?
A. $1,200 B. $1,500 C. $2,280 D. $2,560
For the United States in 2012, exports and imports were roughly what percent of its GDP?
A. 56 percent and 44 percent, respectively B. 41 percent and 37 percent, respectively C. 21 percent and 26 percent, respectively D. 14 percent and 17 percent, respectively