If the price of a product increases, the demand for the resource used in producing that product decreases
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to the scenario above. Which of the following techniques is used to arrive at the optimum decision in the scenario?
A) Optimization in levels B) Comparative statics C) Total net benefit approach D) Principal of Optimization at the Margin
A tariff is a tax on ____ goods that is designed to ____
a. exported; protect domestic industries b. exported; hurt foreign industries c. imported; made domestic consumers pay more d. imported; protect domestic industries e. domestic; discourage imports
Suppose the interest rate is 3% and that you are to receive three annual payments of $1,000, with the first payment today, the second payment one year from now, and the third payment two years from now. What is the present value of this stream of payments?
Using the income approach, an estimate of the value of capital worn out producing GDP is:
A. indirect business taxes. B. capital consumption allowance or depreciation. C. gross private domestic investment. D. capital erosion estimate.