For a firm hiring a resource in a perfectly competitive resource market, its demand curve for the resource is its
a. marginal product curve
b. marginal revenue product curve
c. marginal resource cost curve
d. marginal revenue curve
e. total revenue curve
B
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If you want to know the present value of $10,000 received a year from today, and the interest rate is 4 percent, what formula can you use?
A) Present value equals $10,000 times 0.04. B) Present value equals 1.04 divided by $10,000. C) Present value equals $10,000 divided by 1.04 D) Present value equals $10,000 times 1.04.
Classical economists believed that the economy would always return to full employment
a. True b. False
Using carefully-labeled graphs, explain how an individual demand curve is derived from the utility-maximizing behavior of a consumer.
What will be an ideal response?
The largest net international lenders since 1980 have been
A. Russia and Saudi Arabia. B. the United Kingdom and France. C. the United States and china. D. Japan and Germany.