Suppose that you borrow $10,000 for one year, and at the end of the year, you must repay $10,350. The interest rate is
A) 10.35 percent.
B) 6.5 percent.
C) 3.5 percent.
D) 2.7 percent.
Answer: C
You might also like to view...
Total costs increase from $1500 to $1800 when a firm increases output from 40 to 50 units. Which of the following are true?
a. FC = $100 b. MC=300 c. MC=30 d. FC = $400
Public goods are not free. If we need a fighter aircraft, we are obliged to give up something else that could have been provided with the resources used to make the aircraft. The opportunity cost of providing aircraft can be represented in the
a. paradox of thrift b. aggregate expenditure curve c. marginal propensity to consume d. innovation cycle e. production possibilities curve
GDP is the total market value of:
a. All expenditures on natural resources, labor, and capital goods in an economy in a given year b. All intermediate goods and services produced in an economy in a given year c. All final goods and services produced in an economy in a given year d. All expenditures on consumption, investment, and net exports in an economy in a given year
Which of the following nations is not considered an industrially advanced country?
A. Russia B. Japan C. Canada D. Australia