Robert put $15,000 into an account with a fixed interest rate two years ago and now the account balance is $16,917.66 . What rate of interest did Robert earn?
a. 4.5 percent
b. 5.4 percent
c. 6.2 percent
d. 8.0 percent
c
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To maximize the social pie, a tax on pollution must equal the external cost created by the polluting activity
Indicate whether the statement is true or false
When individuals use all available information about an economic variable to make a decision, expectations are
A) rational. B) overestimates of reality. C) underestimates of reality. D) accurate.
The principle of comparative advantage holds that nations should
a. specialize in activities for which they have the lowest opportunity cost. b. strive to become self-sufficient in production. c. produce only goods and services for which they have absolute advantage. d. become less labor-intensive and more capital-intensive.
The cost of processors and memory has decreased dramatically in the past twenty-five years. As a result, we have seen
a. an increase in demand. b. an increase in supply. c. a decrease in demand. d. a decrease in supply.