Suppose when you are 21 years old, you deposit $1,000 into a bank account that pays annual compound interest, and you do not withdraw from the account until your retirement at the age of 65, 44 years later. How much more will be in your account if the interest rate is 6 percent rather than 5 percent?
A. $440
B. $4,428
C. $1,549
D. $8,557
Answer: B
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The governor has proposed to clean up all trash on the side of the highway. The project is estimated to cost the tax payers and additional $15,000. The city will benefit by having a clean highway which will entice tourists to stop along their routes. The project is estimated to bring in $18,000 of revenue from the highway being cleaned. Should the governor continue with the project?
A. Yes, the tax payers wanted the highway cleaned up. B. Yes, the project will bring in $3,000 more in MB than MC. C. No, the benefit from the project will only be $3000. D. No, the project will not bring in enough benefit to cover the costs.
Which market type has characteristics as follows: large number of firms, differentiated product?
A) perfect competition B) monopolistic competition C) oligopoly D) monopoly
In a competitive price-taker market, the actions of any single buyer or seller will
a. have a negligible impact on the market price. b. have little effect on overall production but will ultimately change final product price. c. cause a noticeable change in overall production and a change in final product price. d. adversely affect the profitability of more than one firm in the market.
Functional Uform subunits work best in:
A. small, specialized companies. B. companies that produce many products. C. industries with rapidly changing technology. D. large, geographically spread-out companies.