Suppose the interest rate is 3% and that you are to receive three annual payments of $1,000, with the first payment today, the second payment one year from now, and the third payment two years from now. What is the present value of this stream of payments?

Which type of unemployment is the consequence of downturns in the business cycle?

A) structural B) expansionary C) cyclical D) natural E) frictional

According to these relationships, the competitive output level arises where

Consider the following model for the production of refined oil: MSC = 10 + 0.5Q; MEC = 0.3Q; MSB = 30 – 0.3Q; MEB = 0. a. QC = 25 b. QC = 20 c. QC = 40 d. none of the above