James offers you $1,000 today or $X in 7 years. If the interest rate is 4.5 percent, then you would prefer to take the $1,000 today if and only if
a. X < 1,045.00.
b. X < 1,188.89.
c. X < 1,266.67.
d. X < 1,360.86.
d
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In monopolistically competitive markets, products are ________ and there ________ barriers to entry
A) identical; are no B) differentiated; are no C) identical; are D) differentiated; are
A firm's cost of production equals ________
A. all the costs paid with money, called explicit costs B. the implicit costs of using all the firm's own resources C. all explicit costs and implicit costs, excluding normal profit D. the costs of all resources used by the firm whether bought in the marketplace or owned by the firm
The effects of tax incentive programs such as IRAs and 401(k) accounts suggest that these government programs designed to increase saving lead to ________ in the private capital stock
A) virtually no change B) a slight decrease C) a slight increase D) a significant increase
Normal goods have negative income elasticities of demand, while inferior goods have positive income elasticities of demand
a. True b. False Indicate whether the statement is true or false