Sharon deposits $150.00 in her savings account at the bank. At the end of one year she has $156.38. What was the interest rate that Sharon earned?
A. 4.52%
B. 5.63%
C. 4.25%
D. 6.38%
Answer: C
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Intel hired a consultant who found that the value of marginal product of Intel's workers decreased as more workers were hired. Suppose Intel is a monopolistically competitive firm. Then the value of marginal product decreases because the
I. workers' marginal product of labor decreased as more workers were hired. II. marginal revenue of Intel's chips decreased as more chips were sold. A) I only B) II only C) Both I and II D) Neither I nor II
Harvey Miller owns a baseball that was hit for a home run by Ted Williams
Harvey, a long-time Boston Red Sox fan, recently refused to sell his baseball for $75,000 even though he would not have paid someone more than $10,000 for the baseball if he did not already own it. Harvey explained his decision not to sell the baseball by noting that: "Ted Williams was my hero. This baseball has a great deal of sentimental value for me." Which of the following can explain Harvey's behavior? A) how social influences can affect consumption choices B) the difference between implicit and explicit costs C) the endowment effect D) the scarcity of home run baseballs hit by Ted Williams
Which of the following is the largest asset on a consolidated balance sheet for a commercial bank?
a. Checkable deposits b. government bonds c. Cash assets, including reserves d. Loans e. Borrowing from the Federal Reserve
Which of the following phrases does not describe an essential characteristic of a factory?
a. produces a standardized product to be sold in a wide market b. relies on stocks and bonds in order to finance plants and machinery c. assembles workers under a definite organizational discipline d. carries out complex operations in one building or in adjacent buildings