If the interest rate is 4%, in which of the following cases is the future value the largest?
a. An initial value of $1,000 deposited for 5 years.
b. An initial value of $950 deposited for 6 years.
c. An initial value of $900 deposited for 7 years.
d. An initial value of $850 deposited for 8 years.
a
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With which choice are you more likely to avoid Bid-rigging cartels?
a. The winning bids are announced b. The winning bids are not announced c. Winning bids are announced right after the auction d. Both A&C
Gooey Flakes is the only ready-to-eat cereal that has chocolate syrup injected into each flake. The machine that injects the syrup into the flakes can do nothing else. Which of the following is true?
a. All of the machine's earnings are economic rent. b. All of the machine's earnings are opportunity cost. c. The supply curve for this machine is horizontal. d. The demand curve for this machine is horizontal. e. The demand curve for this machine is vertical.