Licensing is a process in which a firm wanting to enter a market must
a. require all potential customers to obtain government permission to purchase the product.
b. notify the government within a certain period after it has entered the market.
c. pay all overdue taxes before entering the market.
d. obtain permission from the government to enter the market.
D
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Assuming a real interest rate of four percent, which of these causes the largest increase in the present value of lifetime resources?
A) a winning lottery ticket that pays $9,600 today B) an additional $10,000 of income in the future period C) a salary increase of $5,000 both today and in the future period D) an additional $10,000 of current wealth
An increase in the money supply is represented by a(n):
a. rightward shift of the downward-sloping money supply curve. b. upward shift of the money supply curve. c. rightward shift of the money supply curve. d. increase in the rate of interest.