Calculate the annual return earned by a lender on a sum of $800 lent out at 8 percent interest, if prices inflate at the rate of 5 percent per annum
a. $909.03
b. $808.50
c. $800.67
d. $907.20
D
You might also like to view...
If the production possibilities frontier is ________, then opportunity costs are constant as more of one good is produced
A) bowed out B) linear C) bowed in D) non-linear
If labor is the only variable input, a firm's labor demand curve is the
a. entire marginal revenue product of labor curve b. downward-sloping portion of its marginal revenue product of labor curve c. downward-sloping portion of its marginal product of labor curve d. demand curve for the product produced by labor e. downward-sloping portion of the firm's marginal revenue curve
Suppose businesses in general believe that the economy is likely to head into recession and so they reduce capital purchases. Their reaction would initially shift
a. aggregate demand right. b. aggregate demand left. c. aggregate supply right. d. aggregate supply left.
Voters' Ordered PreferencesAbbyBobCarloPublic parksPublic zooPublic transportationPublic zooPublic transportationPublic parksPublic transportationPublic parksPublic zooIf a pair-wise majority vote was held and the voters' preferences are shown in the table, assuming public parks and transportation was the first pair to be voted on, which voter will be happiest with the outcome?
A. Bob and Carlo will be equally happy. B. Carlo C. Abby D. Bob