Since 1973, the average annual growth rate of real GDP per person in the United States has been slower than the average annual growth rate in
A) Germany and Canada.
B) France and Italy.
C) Japan and United Kingdom.
D) France and Canada.
C
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Tombstones are produced in a competitive price-searcher market. One producer, Rolling Stones, sells 20 tombstones a week at a price of $500 each. Its average total cost is $600 . From this information, we can conclude
a. new tombstone firms will want to enter. b. this producer is losing $2,000 a week. c. this producer is making an economic profit of $400. d. this producer is setting MR = MC. e. this producer should increase production.
Suppose the interest rate is 5 percent. Which of the following payment options has the highest present value today?
a. $550 one year from today. b. $580 two years from today. c. $600 three years from today. d. $615 four years from today.