Suppose that you borrow $10,000 for two years, and at the end of the second year, you must repay $11,664. The interest rate is
A. 8.0 percent.
B. 7.0 percent.
C. 9.0 percent.
D. 16.7 percent.
Answer: A
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The tendency of workers to supply more labor in response to a larger reward for working is called the ________ of a higher real wage on the quantity of labor supplied
A) homogeneous labor supply effect B) negative correlation effect C) income effect D) substitution effect
A problem when implementing countercyclical fiscal policy is
a. knowing where the turning point is b. defining the accelerator c. identifying which multiplier to use d. knowing when the balanced budget multiplier equals 1.0 e. finding the natural unemployment rate
If you were told that the exchange rate was 1.2 U.S. dollars for one Canadian dollar,that would mean that Canadians would have to spend ____ to buy a $12 watch in New York City
A. 18 Canadian dollars B. 10 Canadian dollars C. 12 Canadian dollars D. 14.4 Canadian dollars
In a given year, a country's GDP = $9841, net factor payments from abroad = $889, taxes = $869, transfers received from the government = $296, interest payments on the government's debt = $103, consumption = $8148, and government purchases = $185. The country had private saving equal to
A. $2397. B. $2112. C. $3850. D. $285.