Suppose the parents of a child born in the year 2000 had invested $5,000 at a 10% interest rate to be paid out to the child when she turns 21 years old. Approximately how many times will the investment double by the time it is paid out to the child?
a. 2 times
b. 3 times
c. 4 times
d. 8 times
b
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Scarcity is a situation in which
A) people cannot satisfy all their wants. B) most people can get only bare necessities. C) people can satisfy all their wants. D) some people can get all they want and some cannot.
Illustrate with a graph the effects of fiscal policy when exchange rates are fixed
What will be an ideal response?
The difference between normal and inferior goods is that
a. an increase in price will shift the demand curve for a normal good rightward and the demand curve for an inferior good leftward. b. if the price of a normal good increases, individuals who buy it are poorer; for inferior goods, the opposite is true. c. an inferior good is something that will not be demanded until quantities of the normal good have been exhausted. d. an increase in income will shift the demand curve for a normal good rightward and the demand curve for an inferior good leftward.
Assuming the inner curve is the United States' current production possibilities frontier, which of the following points would eventually lead to the greatest level of economic growth?
A. Point J
B. Point N
C. Point K
D. Point P