Refer to the scenario above. After a year, the interest payments by the bank will be ________
A) $10
B) $300
C) $3,000
D) $3,300
B
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If an industry has constant marginal and average costs, any shift in demand will eventually
A) result in a higher equilibrium price. B) be met by a smaller change in quantity supplied. C) be met by an equal change in quantity supplied, and equilibrium price will not change. D) make economic profits zero in the short run.
"Mediocre economists often consider only the immediate direct effects of a change, whereas a good economist will also consider indirect effects that may only become observable over time." This statement most clearly emphasizes
A) the law of comparative advantage. B) economizing behavior. C) the importance of secondary effects. D) the gains derived from voluntary exchange.
Suppose the government of South Island fixes the exchange rate of its currency, the Islandia, in terms of the U.S. dollar. Initially the exchange rate is set at $1 per Islandia. Later the government changes the exchange rate to $2 per Islandia. This is an example of a(n):
A. appreciation. B. depreciation. C. revaluation. D. devaluation.
An increased growth rate in Pakistan has increased the Pakistani demand for U.S.-made computers. Pakistan increases its imports of U.S.-made computers by $100 million. U.S. net exports will
A. increase by more than $100 million. B. increase by $100 million or more. C. increase by $100 million. D. increase by less than $100 million.