If you invest $500 today, and the value one year from today is $1000, then the annual interest rate must be
A) 10%.
B) 50%.
C) 100%.
D) 200%.
C
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A perfectly competitive firm is producing 50 units of output, which it sells at the market price of $23 per unit. The firm's average total cost is $20. What is the firm's total revenue?
A) $23 B) $150 C) $1,000 D) $1,150 E) $20
A change in demand would be illustrated by
a. a drop in price, which causes people to buy more. b. an increase in price, which causes people to buy less. c. a change in people’s preferences that causes them to buy either more or less than before. d. All of these.
Assuming demand is inelastic, if a firm wants to increase its total revenue, it should raise price
Indicate whether the statement is true or false
Health care expenditures in the U.S. made up approximately ____ of the total value of the GDP in 2010
a. 20.1 percent b. 17.9 percent c. 13.5 percent d. 9.8 percent