Mary deposits funds into a CD at her bank. The CD has an annual interest of 4.0%. If Mary leaves the funds in the CD for two years she will have $540.80. What amount is Mary depositing?
A. $500.00
B. $520.00
C. $512.40
D. $514.50
Answer: A
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If a comparative advantage implies that a country can produce a product at a lower opportunity cost than another country then why do we see two countries often trading the same goods? For instance, for most agricultural products the U.S
has a comparative advantage. Japan, one of America's largest trading partners has a comparative advantage in the production of most economy cars. Explain what is going on here when we still see the U.S. exporting cars to Japan and the U.S. importing some foods from Japan.
If Europe and the United States were the only two regions in the world, then U.S. residents might desire to buy euros for all except one of the following reasons. Which is the exception?
a. to invest in Europe b. to buy European goods c. to improve the U.S. balance of payments d. to make loans in Europe e. to buy European stocks
If the State of California decides to raise the drinking age to 25, what would happen to the demand for beer?
A. The demand for beer will shift left. B. The demand for beer will stay the same, but people will move up the demand curve consuming less. C. The demand for beer will shift right. D. One cannot tell what will happen with the information given.
Refer to the information provided in Figure 2.6 below to answer the question(s) that follow.
Figure 2.6Refer to Figure 2.6. Which of the following will shift an economy's production possibility frontier from ppf1 to ppf2?
A. a change in consumers' tastes B. an increase in production efficiency C. an increase in the economy's capital stock D. a decrease in unemployment