A savings account functions as
A) a unit of account.
B) a store of value.
C) a medium of exchange.
D) none of the above
B
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For a given amount of nominal income, the real income will
A. rise as the price level rises. B. fall if the price level falls. C. fall if the price level rises. D. be unaffected if the price level falls.
Which of the following lists has variables that all shift a good's demand curve?
A) price of the good, preferences, prices of substitution goods, income B) income, preferences, number of buyers, price of complementary good C) expectation of future price, price of the good, number of buyers, income D) Both answers A and B are correct.
The following equations represent the demand and supply for bird feeders
QD = 35 - P QS = -5 + 3P What is the equilibrium price (P) and quantity (Q - in thousands) of bird feeders? A) P = $35; Q = 20 thousand B) P = $5; Q = 30 thousand C) P = $10; Q = 25 thousand D) P = $20; Q = 20 thousand
Suppose you have two clients who need your services for two years. One agreed to pay you $50,000 one year from now and another $50,000 in two years while the other paid $35,000 after one year, but $65,000 after two years
Assuming an interest rate of 10%, which one has a higher present value? Round off to the nearest dollar.