You agree to lend a friend $20,000 for a year at an annual interest rate of 45%. At the end of the year your friend must pay you ________ in interest.
A. $133
B. $750
C. $1,900
D. $9,000
Answer: D
You might also like to view...
In the short run, a perfectly competitive firm determines its profit-maximizing or loss-minimizing output by
a. producing at full capacity. b. equating price and marginal revenue. c. equating marginal revenue and marginal cost. d. equating average revenue and average cost.
A negative externality is
A. a type of tax. B. a type of subsidy. C. a type of money price. D. linked to external costs. E. linked to external benefits.
Economic agents can raise money capital by ________
A) issuing liabilities B) repaying a loan C) paying taxes D) providing a subsidy
Missouri can produce 10,000 tons of pecans per year or 5,000 tons of pears per year. Washington can produce 12,000 tons of pecans per year or 48,000 tons of pears per year. Which of the following statements is TRUE?
A) Washington has an absolute advantage in the production of both pecans and pears. B) Washington has a comparative advantage in the production of both pecans and pears. C) Washington has a comparative advantage in producing pecans and Missouri has a comparative advantage in producing pears. D) Both answers A and C are correct.