Corey deposits $1,000 in a savings account that pays an annual interest rate of 5 percent. Over the course of a year, the inflation rate is 1.7 percent. At the end of the year, Corey has
a. $17 more in his account, and his purchasing power has increased by $10.
b. $30 more in his account, and his purchasing power has increased by $50.
c. $40 more in his account, and his purchasing power has increased by $33.
d. $50 more in his account, and his purchasing power has increased by $33.
d
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In the long run, the Phillips curve is a ________ at ________.
Fill in the blank(s) with correct word
In the above figure, Mark's monthly budget line for movies and plays changed, as shown by the arrow. The change was caused by
A) a decrease in Mark's income. B) an increase in Mark's income. C) a fall in the price of a play. D) a rise in the price of a play.
The prime interest rate is the
A) interest rate on six-month U.S. Treasury bills. B) discount rate. C) Federal funds rate. D) interest rate that banks charge high-quality borrowers.
A surplus occurs when price is higher than the market equilibrium
a. True b. False Indicate whether the statement is true or false