Four Economics QuestionsWhat is the correct answers for these four economic questions? QUESTION 1If a factor of production has a fixed total supply, then payments to that factor constitute:A. WagesB. Economic rentC. Normal profitsD. Interest paymentsсQUESTION 2Other things equal, the interest rate on a loan will be larger:A. The less the risk involvedB. The larger the bank making the loanC. The longer the length (maturity) of the loanD. If loan interest is exempt from taxationсQUESTION 3Economists would not consider which one of the following to be a productive economic resource?A. LandB. Capital goodsC. MoneyD. Entrepreneurship.CQUESTION 4If the interest rate is 15%, what is the present value of $10,000 received two years from now?A. $7,000.00B. $7,692.30C. $13,000D. $7,561.43

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Answered: QUESTION 1 If a factor of production…

QUESTION 1 If a factor of production has a fixed total supply, then payments to that factor constitute: A. Wages B. Economic rent C. Normal profits D. Interest payments C

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Four Economics Questions

What is the correct answers for these four economic questions?

QUESTION 1
If a factor of production has a fixed total supply, then payments to that factor constitute:
A. Wages
B. Economic rent
C. Normal profits
D. Interest payments
с
QUESTION 2
Other things equal, the interest rate on a loan will be larger:
A. The less the risk involved
B. The larger the bank making the loan
C. The longer the length (maturity) of the loan
D. If loan interest is exempt from taxation
с
QUESTION 3
Economists would not consider which one of the following to be a productive economic resource?
A. Land
B. Capital goods
C. Money
D. Entrepreneurship.
C
QUESTION 4
If the interest rate is 15%, what is the present value of $10,000 received two years from now?
A. $7,000.00
B. $7,692.30
C. $13,000
D. $7,561.43

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