The value of a loan of $500 after a year at 3 percent interest is:
A. $509.
B. $515.
C. $565.
D. $1,500.
B. $515.
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The income per capita in Baltonia is 64,163 in Baltonian currency. If the price of a basket of goods worth $1 in the U.S. is 5.50 units of Baltonian currency, Baltonia's income per capita in purchasing power parity is:
A) $11,666. B) $10,257.48. C) $2,832. D) $15,624.50. The price of a given basket of goods in Country 1 is 10 karls. The price of the same basket of goods in Country 2 is 25 ritz and $2 in the U.S. Country 1 has a income per capita of 3,200 karls and Country 2 has a income per capita of 5,500 ritz.
The principle that pulls down the average cost (ATC), and then, as output continues to expand, pulls it up, is
a. lower prices and then higher prices. b. rising and then diminishing marginal returns. c. lower average fixed cost and then higher average fixed cost. d. lower resource prices and then higher resource prices.
A fishing boat owner sells her entire catch of 8,000 fish and maximizes profit that is equal to $4,000 . Suppose fish prices increase and you are asked to calculate her profit knowing that she now sells 10,000 fish. If fish prices increased by $1 per fish, what do you need to know to calculate her new profit level?
a. average fixed cost b. average variable cost c. change in average total cost d. marginal cost e. average total cost
Sizeable budget deficits can be expected in the years ahead because
a. the retirement of the baby boom generation will soon begin to push expenditures on both Social Security and Medicare upward. b. the political incentive structure encourages politicians to spend more revenue than they are willing to tax. c. both a and b are true. d. both a and b are false. Budget surpluses can be expected in the years ahead.