The present value of future payments depends on:
a. whether the payment is interest or dividends.
b. the marginal propensity to save.
c. the interest rate.
d. sunk costs.
c. the interest rate.
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The short-run market supply curve in a perfectly competitive industry
a. shows the total quantity supplied by all firms at each possible price b. is perfectly inelastic at the market price c. is perfectly elastic at the market price d. shows how much output each individual firm will supply at various possible prices e. is usually downward sloping
A family's ability to buy goods and services depends largely on the family's
a. economic mobility. b. place in the economic life cycle. c. transitory income. d. permanent income.
Studying which of the following is helpful in learning to think like an economist?
a. theory b. case studies. c. examples of economics in the news. d. all of the above.
Assume that at a given output a monopolist's marginal revenue is $25 and its marginal cost is $18. If the monopolist increases output, then
A. price, marginal cost, and total profit will fall. B. price will fall, marginal cost will rise, and total profit will rise. C. price will rise, marginal cost will fall, and total profit will rise. D. price, marginal cost, and total profit will rise.