Compound interest is:
A. the payment of interest on the original deposit.
B. the payment of interest on both the original deposit and all accumulated interest.
C. the interest rate adjusted for the rate of inflation.
D. the real rate of interest compounded by the rate of inflation.
Answer: B
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If marginal productivity is increasing, then total product is
A) increasing at an increasing speed. B) increasing at a constant speed. C) increasing at a decreasing speed. D) decreasing at an increasing speed.
In a perfectly competitive market, if P < MC, then
A) too little output is being produced. B) too much output is being produced. C) production is efficient, as the firm is earning profits. D) the firm is paying a price for resources that is too high.
The law of supply indicates that an increase in price will cause an increase in supply which is reflected graphically as a rightward shift of the supply curve
a. True b. False Indicate whether the statement is true or false
Suppose scientists provide evidence that people who drink energy drinks are more likely to have a heart attack than people who do not drink energy drinks. We would expect to see
a. no change in the demand for energy drinks. b. a decrease in the demand for energy drinks. c. an increase in the demand for energy drinks. d. a decrease in the supply of energy drinks.