You win a lottery that pays $50,000 each year for the next 10 years beginning next year. How much are your winnings worth today?
A. $0
B. $50,000
C. $500,000
D. indeterminate with the given information
Answer: D
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Stabilization policy is policy that seeks to
A) get zero inflation. B) eliminate fluctuations. C) eradicate unemployment. D) maximize output.
A firm's Lerner Index:
A. is the amount by which its price exceeds its marginal cost, expressed as a percentage of its price. B. is the amount by which its marginal cost exceeds its average cost. C. is the amount by which its average cost exceeds its marginal cost. D. is the value of its profit.
Holly reads that the US unemployment rate is 9.5% in August. She knows that there are labor ____ and that wages will eventually ____
Fill in the blank(s) with the appropriate word(s).
The social interest theory of regulation suggests that the political process and regulations will ________ and the capture theory of regulation suggests that the political process and regulations will ________
A) seek to minimize deadweight loss; serve the interests of the producers B) try to maximize the producers' economic profits; seek to minimize deadweight loss C) be unaffected by deadweight loss; increase the firms economic profits D) ignore producers' interests and concentrate on consumers' interests; seek to minimize firms' economic profits