Which of the following is the correct expression for finding the present value of a $1,000 payment one year from today if the interest rate is 6 percent?
a. $1,000 (1.06)
b. $1,000(1.06)
c. $1,000/(1.06)
d. None of the above is correct.
c
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Which of the following describes the asymmetry Moncur Olson observed in the incentives to support and oppose trade policy?
A) The benefits of those seeking protection outweigh the costs imposed by the protection. B) The benefits of protection are spread out over a large number of firms and industries, but the costs are concentrated on consumers. C) The benefits of policy are concentrated, and the costs are spread out over a large number of participants. D) The costs of protection are concentrated on a few firms, and the benefits of protection are spread out over a large number of consumers.
For the period 1915 to 2005, educational improvements in the U.S. labor force contributed what percentage of real per-capita GDP growth?
A) 0.01 B) 15 C) 317 D) 34
Since people get sick at all hours of the day, some nurses who work in hospitals are required to work the night shift. In most cases, the nurses who work the night shift earn a higher hourly wage for the same work as the nurses who work the day shift. This difference in pay is referred to as a
a. discriminatory wage practice. b. compensating differential. c. wage inequity. d. a market inefficiency.
When the marginal utility per dollar of good A exceeds the marginal utility per dollar of good B,
A) the consumer should consume more of good A. B) the consumer is consuming too much of good A. C) good B must have a negative marginal utility. D) the consumer is in an optimal situation if the price of good A exceeds the price of good B.