Present and future value tables of $1 at 11% are presented below. PV of $1 FV of $1 PVA of $1 FVA of $1 1 0.90090 1.11000 0.90090 1.0000 2 0.81162 1.23210 1.71252 2.1100 3 0.73119 1.36763 2.44371 3.3421 4 0.65873 1.51807 3.10245 4.7097 5 0.59345 1.68506 3.69590 6.2278 6 0.53464 1.87041 4.23054 7.9129 Titanic Corporation leased executive limousines under terms of $20,000 to be paid at the inception of the lease, and four equal annual payments of $30,000 to each be paid thereafter on the anniversary date of the lease. The interest rate implicit in the lease is 11%. The first year's interest expense would be: Multiple Choice

Suppose general motors demands labor according to the labor demand function 푤푤= 40−0. 5퐸퐸, where 푤푤 is the hourly wage and 퐸퐸 is the number of employees. the united auto workers union has a utility function given by 푈푈=푊푊∗퐸퐸. a.in 1984, the united auto workers union started negotiations with general motors by assuming that they were a monopoly union. find the wage and employment demands that the united auto workers union would have demanded before any bargaining began. b.if general motors and the united auto workers union both had excellent bargaining representatives, would this be the final labor contract? if not, then explain in words and graphically where they would end up after the bargaining process.

When the federal reserve buys and sells bonds to member banks, it is called a. monetary policy b. reserve ratio c. interest rate adjustment d. open market operations

2. the language of price controls consider the market for rental cars. suppose that, in a competitive market without government regulations, the equilibrium price of rental cars is $58 per day, and employees at car rental companies earn $19.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect there are many teenagers who would like to work at car rental companies, but the minimum-wage law sets the hourly wage at $23.00. the government has instituted a legal minimum price of $87 per day for rental cars. the government prohibits car rental companies from renting out rental cars for more than $87 per day.