Refer to the scenario above. What will the balance in Tom's account be after five years if he deposits $3,000 in the bank?
A) $3,222.64
B) $3,400
C) $4,014.68
D) $4,111.78
C
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Refer to Figure 20-1. Based on the graph of the labor market above, if a minimum wage of $8 per hour is imposed, which of the following will result?
A) The quantity of labor demanded by firms will rise. B) The quantity of labor demanded by firms will fall. C) The unemployment rate will fall. D) Both A and C will occur.
Policymakers in a country with a balance of payments surplus may not want to see their country's currency appreciate because this would
A) hurt consumers in their country by making foreign goods more expensive. B) hurt domestic businesses by making foreign goods cheaper in their country. C) increase inflation in their country. D) decrease the wealth of the country.
Which of the following is a stock?
A. Consumption B. Wealth C. Saving D. Income
Free entry implies that
A. if firms in an industry are making excessively high profits, new firms are likely to enter the industry. B. the government regulates the number of firms that are allowed in an industry. C. a perfectly competitive firm can never earn a profit. D. firms will always earn a profit, as new firms can enter the industry at any time they like.