You lend a friend $20,000 for a year. At the end of the year your friend agrees to pay you $21,100. The interest rate on this loan is
A. 4.50%
B. 5.00%.
C. 5.50%.
D. indeterminate from this information.
Answer: C
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The figure above shows the costs and demand curves for the Bigshow Cable Company. Bigshow Cable Company incurs an economic loss if the regulator set its price at
A) $8. B) $6. C) $4. D) None of the above prices force Bigshow to incur an economic loss.
An appreciation of a nation's currency is
A) a situation in which exchange rates are allowed to fluctuate in the open market in response to changes in supply and demand. B) the increase in the exchange value of one nation's currency in terms of an other nation. C) a nation in which households, firms, and governments buy and sell national currencies. D) the decrease in the exchange value of one nation's currency in terms of another nation.
"Good" trusts were exempt from antitrust prosecution under the:
a. per se rule. b. Sherman Act. c. Clayton Act. d. rule of reason.
How did the influential economist John Maynard Keynes explain his remark that though economics is an easy subject compared with the higher branches of philosophy or pure science, it is a subject at which few excel?
a. Most people who study economics are not very bright. b. Good economists must possess a rare combination of gifts. c. Economics is quite boring; hence, people tend to lose interest in it before mastering it. d. Good thinkers become frustrated with economics because it does not make use of the scientific method.