Suppose you put $500 in your savings account and earn 4% interest per year. How much will you have in your account after two years? Be sure to round off to the nearest cent
What will be an ideal response?
$500 × 1.04 × 1.04 = $540.80
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Refer to Table 5.1. Does either Andrea or Hector have an absolute advantage and if so, in what product?
A) Andrea only has an absolute advantage in producing bracelets. B) Hector only has an absolute advantage in producing bracelets. C) Andrea has an absolute advantage in producing both products. D) Hector only has an absolute advantage in producing tiaras.
Under a k-percent rule, if the economy goes into expansion, the Fed would
A) increase the quantity of money. B) raise the federal funds rate. C) lower tax rates to keep revenue constant. D) lower the federal funds rate. E) None of the above answers is correct.
The Civil War was a result of
(a) the dispute over slave ownership in the South. (b) attempts to keep slaves out of the West. (c) attempts to protect state rights over federal control. (d) all of the above.
In an imperfectly competitive labor market, the firm is faced with a(n) ________ MPP curve and a(n) ________ MR curve
A) downward sloping; upward sloping B) downward sloping; downward sloping C) upward sloping; downward sloping D) downward sloping; horizontal