The "miracle of compound interest" is best described by which of the following?
What will be an ideal response?
D) Interest is paid on the principal plus the prior interest earned.
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The accompanying table shows a pizzeria's fixed cost and variable cost at different levels of output. Pizzas sell for $20 each.Number of Pizzas Per DayFixed Cost ($/Day)Variable Cost ($/Day)050002550015050500250755004501005008501255001,650 When the pizzeria makes 100 pizzas per day, it earns an economic ________ of ________.
A. loss; $500 B. loss; $650 C. profit; $650 D. profit; $1,150
Whenever there is excess demand for real balances, short-run adjustment occurs because:
a. savers and investors buy bonds and drive up their prices (drive down nominal rates of interest). b. investors and borrowers sell bonds (convert to cash) and drive down their prices (drive up nominal rates of interest). c. the price level falls to restore real balances. d. aggregate demand is decreased to restore equilibrium.
Economic well-being in Canada is overstated by growth rates because they don't account for:
What will be an ideal response?
If a country has a trade deficit of $30 billion, which of the following can be true?
A. The country's exports are $140 billion, and its imports are $40 billion. B. The country's exports are $110 billion, and its imports are $140 billion. C. The country's exports are $120 billion, and its imports are $140 billion. D. The country's exports are $150 billion, and its imports are $120 billion.