Calculate the present value of an asset worth $2,000 four years from now if the interest rate is 6 percent

What term do economists use to refer to the satisfaction that an individual expects to receive from consuming a good or service?

a. utility b. response c. usability d. demand e. desirable

Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.

A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher