Suppose Tracy will get $500 from her parents when she graduates from college two years from today. If the market interest rate is 8 percent, then what is the present value of that $500?

Explain how two Bertrand price competitors can price above marginal cost in an infinitely repeated game setting.

What will be an ideal response?

Economists generally agree that in reducing poverty, policies should be sought that do the

A. greatest good for total production. B. least harm to work incentives. C. most good for the poor. D. least harm to equality of income.