The present value of a future amount of money will be greater the:
A. greater the interest rate.
B. greater the amount of time before the future payment is received.
C. lower the interest rate.
D. greater the rate of the expected rate of inflation.
C. lower the interest rate.
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What is the economic role of a patent?
What will be an ideal response?
In general, the marginal benefit curve
A) has a positive slope. B) has a negative slope. C) is horizontal. D) is vertical. E) is concave.
Other things equal, when the supply of workers is scarce, one would predict that market wages would be
a. relatively high. b. relatively low. c. determined solely by factors that affect demand. d. determined outside the domain of economic theory.
A year-long drought that destroys most of the summer's crops would be considered a:
A. short-run supply shock. B. long-run demand shock. C. long-run supply shock. D. short-run demand shock.