On January 1, 2006, a consumer borrowed $10,000 for a term of one year at an interest rate of 12 percent. How much principal and interest will the consumer pay back on January 1, 2007?
a. $10,000
b. $1,200
c. $8,929
d. $11,200
d
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Consider the impact of an increase in labor-enhancing technology within the classical model. Provide graphs to illustrate what happens to real wages, labor, output, and the price level
What will be an ideal response?
Government controls over industry
(a) limit overall net industrial growth. (b) help all industries. (c) lower consumer costs in the industries assisted by government. (d) encourage the destruction of inefficient and lagging industries.
A special interest will be able to influence a legislature's actions _____
a. only if there are not special interests on the other side of the issue b. if enough members of the legislature are corrupt c. up to the point where the marginal political support they provide equals the marginal political opposition of other special interests d. as long as the marginal political support they provide to the legislature is positive
Wealthy countries increasingly feel that trade:
A. is sometimes acting as a barrier to poorer countries' development. B. is an effective political tool to use against poorer countries. C. can sometimes be a more powerful lever than aid to help poorer countries develop. D. can help poorer countries development, but hurt their overall growth.