Which of the following is closest to the future value of a $4,000 deposit earning 2 percent interest annually after 10 years?
A. $4,122
B. $4,876
C. $5,025
D. $4,805
B. $4,876
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Comparable worth aims at
A) increasing the earnings of the least-skilled workers in the labor force. B) raising the relative wages paid in jobs traditionally dominated by women. C) reducing the relative income shares going to property owners. D) securing equal wages for people performing identical jobs. E) securing equal wages for people performing identical jobs and performing equally well.
Contractionary fiscal policy should be used if:
A) aggregate demand-aggregate supply equilibrium is below potential output. B) aggregate demand-aggregate supply equilibrium is above potential output. C) aggregate demand-aggregate supply equilibrium is equal to potential output. D) none of the above.
Which of the following best describes the "guiding function" of price?
A) In response to a surplus or shortage in two markets, price serves as a "guiding function" by decreasing in one market and increasing in the other market in the short run. B) The guiding function of price is the movement of resources into or out of markets in response to a change in the equilibrium price of a good or service. C) The guiding function of price occurs when the market price changes to eliminate the imbalance between supply and demand caused by a shortage or surplus at the original price. D) The guiding function usually occurs in the short run while the rationing function usually occurs in the long run.
A car dealership union negotiates a contract that dramatically increases all salesmen's salaries. If one of the salesman is thinking of changing careers to be a hardware salesman, his opportunity cost
a. would not be affected b. of becoming a hardware salesman would decrease c. of becoming a hardware salesman would increase d. none of the above