According to the rule of 72, a savings account with an interest rate of 12 percent will double in value in approximately:
A. 10 years.
B. 6 years.
C. 3 years.
D. 8.5 years.
Answer: B
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Japanese exports are heavily concentrated in
A) agricultural products such as rice. B) natural resource products such as coal. C) manufactured products including motor vehicles. D) Both A and C.
Suppose the U.S. dollar appreciates in value against the Australian dollar, and the Fed intervenes in the foreign exchange market by using U.S. dollars to buy Australian dollars. The Fed could sterilize the expansionary effect of this intervention by:
a. buying U.S. dollars in the foreign exchange market. b. buying U.S. government bonds in the domestic open market. c. selling Australian dollars in the foreign exchange market. d. selling U.S. government bonds in the domestic open market. e. buying Australian dollars in the foreign exchange market.
If the MPC is 0.8 and disposable income shrinks by $100 million. Consumption would
a. rise by $8 million b. rise by $80 million c. fall by $80 million d. fall by $8 million e. fall by $20 million
If the economy is producing at point B, the opportunity cost of gaining 12 units of consumer goods is _______ units of capital goods.
Hypothetical Production Schedule for a Two-Product Economy
