The future value of $100 that earns 10% annually for n years is best expressed by which of the following?
A. $100/(1.1)n
B. $100 × n × (1.1)
C. $100(1.1)n
D. $100(0.1)n
Answer: C
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To counteract relative price changes, the government would implement:
A. polices that affect the supply and demand for a specific good. B. fiscal policy. C. monetary policy. D. policies that affect the supply and demand for all goods and services.
Amy can produce either 5000 pounds of cheese or 20 cars per year. Mike can produce either 5000 pounds of cheese or 10 cars per year. Amy's opportunity cost of producing one pound of cheese is ________ car(s).
A. 250 B. 20 C. 1/20 D. 1/250
The balance of payments can be thought of as the balance of economic transactions
a. True b. False
The dollar shortage in international exchange markets in the early 1950's was related to
a. an outflow of gold from the United States. b. large surpluses in the U.S. balance of trade. c. large deficits in the U.S. balance of trade. d. both an outflow of gold from the United States and large surpluses in the U.S. balance of trade.