Your accountant tells you that if you can continue to earn the current interest rate on your balance of $750 for the next three years, you will have $944.78 in your account. If your accountant is correct, then what is the current interest rate?
a. 6 percent
b. 7 percent
c. 8 percent
d. 10 percent
c
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When a binding price floor is imposed on a market, a. price no longer serves as a rationing device
b. the quantity supplied at the price floor exceeds the quantity that would have been supplied without the price floor. c. only some sellers benefit. d. All of the above are correct.
Employee performance evaluation is needed because:
A. it justifies the incredibly high fringe benefits of the CEOs. B. it determines rewards and sanctions-wages, raises, bonuses, and dismissals. C. it minimizes the risks faced by employees for putting in their effort. D. it justifies the incredibly high wages of the CEOs.
The efficiency wage model contains the assumption that labor productivity __________ the wage rate, so that a firm maximizing its profits __________ pay workers an above-market wage rate
A) is independent of; may B) is independent of; will never C) depends on; may D) depends on; will never
A.W. Phillips collected data on the rate of change in money wages and plotted it against unemployment rates in the United Kingdom. The curve he fit to the data showed that
A) the rate of change of money wage rates and unemployment rates were inversely related. B) the rate of change of money wage rates and unemployment rates were directly related. C) the rate of change of money wage rates and unemployment rates were independent. D) as money wage rates increased, the unemployment rate was cut in more than half.