Interest earned on funds compounds because in future years, interest is earned on ________.
A) the principal and interest received in previous years only
B) interest received in previous years only
C) principal only
D) future values
A) the principal and interest received in previous years only
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In the market depicted in the above figure, if a single-price monopoly maximizes its profit, which area shows the consumer surplus?
A) area GHIL B) area HIJ C) area HJKG D) area NFL
The financial statements of firms generally are audited by
A) employees of the firm being audited. B) employees of private accounting firms. C) the board of directors of the corporation being audited. D) employees of the federal government.
Audrey is a corn farmer. This year the weather was fabulous, and she grew the best crop she has ever grown. Instead of being happy, she is sad because the great weather led to a huge corn surplus, and the price per bushel is much lower than usual. What type of government policy imposed on corn would help Audrey in this case?
a. price ceiling b. price floor c. producer tax d. distributor tax
A nation's GDP can be calculated as
A. The sum of value added and intermediate goods. B. The total value added at all stages of production. C. PI plus depreciation. D. NI plus depreciation.