Suppose you put $350 into a bank account today. Interest is paid annually and the annual interest rate is 6 percent. The future value of the $350 after 4 years is
a. $414.09.
b. $434.00.
c. $441.87.
d. $481.24.
c
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Answer the following statements true (T) or false (F)
Economies cannot function without money. The amount of national income in an economy equals the money supply in an economy. Liquidity increases as we move from the M1 to the M2 definition of the money supply. If gold is used as money in an economy, the money supply is easy to control. Commodity money can be used only as a medium of exchange.
Which of the following has not been identified by research that tries to address the self-selection issue regarding the returns to schooling?
A. When both a high school graduate and a college graduate are placed in the type of job that college graduates typically fill, the college graduate would be more productive. B. In general, workers appear to choose schooling amounts that maximize lifetime income. C. When both a high school graduate and a college graduate are placed in the type of job that high school graduates typically fill, the high school graduate would be more productive. D. There are many kinds of ability that are rewarded in the workplace. E. All of the above have been identified by the research on the returns to schooling.
The purchasing power parity theory is a reasonably good explanation for nominal exchange rate determination:
A. in the long run. B. when there are fixed exchange rates. C. when there are significant volumes of non-traded goods and services. D. in the short run.
Which of the following types of unions did the CIO promote?
A) craft unions B) public sector unions C) industrial unions D) military unions