Suppose you have a choice between receiving a lump-sum payment of $10,000 today or four annual payments of $2,750 (with the first payment today). Of the following, which is the highest annual interest rate at which you would prefer the four annual payments over the lump-sum payment?

Marginal utility theory is used in the derivation of the

A) negative slope of demand curves. B) negative slope of supply curves. C) positive slope of demand curves. D) positive slope of supply curves.

A friend wants to learn how the unemployment rate is calculated and how inflation is measured. He asks you which economics course to take and you advise him to enroll in

A) macroeconomics. B) microeconomics. C) either micro- or macroeconomics. They both concentrate equally on those issues. D) financial accounting because economics doesn't address those topics in its courses.