Suppose you pay $800 for a new iPhone. This is an example of
A. money as a standard of deferred payment.
B. money as a medium of exchange.
C. money as a store of value.
D. barter.
Answer: B
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Imputed rental income ____
a. is payment made by rental owners to facility management companies b. provides no value to the recipient c. is the dollar amount of the rental value of an owner-occupied home d. is the dollar amount of the rental value of a renter-occupied home
Which of the following best describes a situation where research is considered relatively fertile?
A) research that translates into many new products B) research that costs the firms relatively little money C) research that cannot be easily copied by other firms D) all of the above E) none of the above
The economic problem with Medicare financing is that
A) there is a built-in incentive to provide fewer services by doctors. B) there is a built-in incentive to travel to Canada to receive medical services. C) the cost of providing services is falling annually. D) there is a built-in incentive to consume more services.
Cleo promises to pay Jacques $1,000 two years from today. If the interest rate is 4 percent, then how much is this future payment worth today?
a. $924.56 b. $931.44 c. $937.87 d. None of the above are correct to the nearest cent.