If a sum of $15,000 is borrowed at 13% for a year, the interest paid by the borrower is ________
A) $750
B) $1,000
C) $1,950
D) $5,500
C
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All of the following were actions taken by the government or the Fed in response to the Financial Crisis of 2007-2009 EXCEPT
A) purchasing of most toxic assets such as mortgage-backed securities. B) reducing the federal funds rate to near zero. C) insuring deposits in money market mutual funds. D) effective nationalization of Fannie Mae and Freddie Mac.
The production possibilities curve represents
A) the total amount of stocks and bonds that exist in the economy. B) the trade-off between human capital and physical capital that exists. C) all possible combinations of total output that can be produced. D) society's needs.
The assumption of a closed economy
a. applies to the world economy. b. applies to most national economies. c. requires us to assume that the government's budget is always balanced. d. All of the above are correct.
Compute the approximate elasticity of demand from the following data:Â PriceQuantityInitial situation$2311.5New situation2013.5
A. 1.15. B. 1.5. C. 5.0. D. .87.