The extra revenue to a team associated with a player is called the player's
A. marginal revenue product.
B. average compensation.
C. minimum wage.
D. reservation wage.
Answer: A
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Assume that the real rate of interest is 5 percent and a lender charges a nominal interest rate of 15 percent. If a borrower expects that the rate of inflation next year will be 10 percent and the actual rate of inflation next year is 10 percent,
A. the lender benefits from inflation, while the borrower loses from inflation. B. the borrower benefits from inflation, while the lender loses from inflation. C. neither the borrower nor the lender benefits from inflation. D. both the borrower and the lender lose from inflation.
An appreciation is:
A. a decrease in the value of currency. B. a decrease in the trade deficit. C. an increase in the trade surplus. D. an increase in the value of currency.