Value of a loan amount X with interest r after one period equals:
A. X/(1 + r)
B. X * (1 + r)
C. (X * 1)/(X * r)
D. All of these are true.
Answer: B
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The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
If people expect prices to fall in the future, today
a. the consumption curve shifts downward b. the consumption curve shifts upward c. the investment curve shifts downward d. there will be an upward movement along their consumption curves e. there will be a downward movement along their consumption curves
Number of WorkersUnits of Output001402903126415051656180Refer to the above data. Diminishing marginal returns become evident with the addition of the:
A. third worker. B. second worker. C. sixth worker. D. fourth worker.
During 2016, Yolanda's assets equal $200,000 and her net worth is $50,000. Yolanda's liabilities are
A. $50,000. B. $150,000. C. $200,000. D. $250,000.