The "time-value of money" refers to the fact that:
A. a given amount of money becomes more valuable over time.
B. a given amount of money is more valuable the sooner it is obtained.
C. people expect monetary compensation for their labor time.
D. a given amount of money today is equivalent to a smaller amount of money in the future.
Answer: B
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If consumers suddenly have a greater desire for energy drinks, the price of energy drinks will likely ________ and producers will ________ production
A) increase; decrease B) increase; increase C) decrease; decrease D) decrease; increase
Suppose that the local hospital claims that the wages of nurses are too high. Yet, the hospital has 10 nursing positions open and no applicants for the jobs. Is the hospital's claim legitimate? Why or why not?
What will be an ideal response?