What is the future value of $800 one year from today if the interest rate is 7 percent?
a. $747.66
b. $756.00
c. $856.00
d. None of the above are correct to the nearest cent.
c
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The median voter theorem will be an accurate predicator of the outcomes of elections
A) when a majority of voters have preferences very similar to those of the median voter. B) only when voter turnout is very high. C) when a majority of voters have preferences different from those of the median voter. D) regardless of whether preferences among voters are similar or different from those of the median voter.
The exchange rate between the dollar and the euro is
a. the price of European goods relative to U.S. goods. b. the price of U.S. goods relative to European goods. c. the number of euros you get for lending one dollar to a European for a year. d. the number of euros you get for one dollar.
According to Nobel Laureate Simon Kuznets, the greatest increase in output and economic growth comes from changes in the _____
a. quantity of resources b. quantity of natural resources (land) c. quantity of labor d. quality of resources e. quantity of capital
Rent controls tend to cause persistent imbalances in the market for housing because
a. Quantity demanded exceeds quantity supplied but price cannot rise to remove the shortage. b. Quantity demanded exceeds quantity supplied but price cannot fall to remove the surplus. c. Quantity supplied exceeds quantity demanded but price cannot rise to remove the shortage. d. Quantity supplied exceeds quantity demanded but price cannot fall to remove the surplus.