According to the rule of 70, if the interest rate is 5 percent, how long will it take for the value of a savings account to double?
a. about 3.5 years
b. about 6.3 years
c. about 12 years
d. about 14 years
d
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Economic growth means people produce
A) money. B) material things. C) whatever people value. D) only durable and high-quality goods.
The best description of US economic growth during the 1800s is:
a. The annual growth rate for the 20 years preceding the Civil War was about the same as the annual growth rate from 1870-1899 while the growth rate during the Civil War was higher than either period. b. The annual growth rate for the 20 years preceding the Civil War was lower than the annual growth rate from 1870-1899 c. The annual growth rate for the 20 years preceding the Civil War was greater than the annual growth rate from 1870-1899
A new loan results in an increase in the customer's checking account and the bank's demand deposits
a. true b. false
Which kind of good might not be bought when prices rise?
(A) Substitute (B) Inferior good (C) Complement (D) Luxury