Suppose First National Bank makes a one-year simple loan of $1,000 at 7% interest to Harry's Restaurant. At the end of one year Harry's Restaurant will pay First National
A) $934.58.
B) $1007.
C) $1700.
D) $1070.
D
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If Table 12.2 represents all the investments available to the economy, the nominal interest rate is 10 percent and there is no inflation, what will be the level of investment in the economy?
A) $0 B) $200 C) $300 D) $500
Use the general relationship between marginal and average values to explain why a marginal cost curve must intersect an average total cost curve and an average variable cost curve at their minimum points
What will be an ideal response?
Developing countries that concentrate production in agricultural products or raw materials may face a secular decline in their international terms of trade due to
A) sluggish demand for these products in developed countries. B) large increases in the supplies of these products on world markets due to export expansion policies. C) inelastic demand for these products in developed countries. D) All of the above.
A firm that produces the entire market supply of a certain good or service is known as:
A.) A competitive firm. B.) An oligopoly. C.) A monopsony. D.) A monopoly.