If you invest $1,000 in a savings account and the annual interest rate is 3.6 percent, your account balance will double in value in approximately _____
a. 185 years
b. 72 years
c. 34 years
d. 20 years
e. 3.4 years
d
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Answer the following statement(s) true (T) or false (F)
1. In a model that analyzes the effects of a tax change, the tax serves as an endogenous variable. 2. The embarrassment theory suggests why shopping carts should be smaller. 3. An economic model, even if unrealistic, is useful as long as it makes predictions that are realistic. 4. Efficiency is the only criterion by which economists judge policies. 5. All points on a risk-neutral individual's indifference curve have the same expected value.
A change in the composition of the population will generally
a. change demand only if there is a change in the size of the population b. change demand only if there is no change in the size of the population c. change demand even if there is no change in the size of the population d. have absolutely no effect on demand e. result in a movement along the demand curve
Why are patents in the biotechnology and semiconductor industries often irrelevant?
a. Technology is advancing very quickly. b. Foreign countries lack intellectual property laws. c. The length of a patent is shorter than necessary. d. Patent laws do not apply to these industries.
The public debt in the United States is the total value of government securities held by
a. foreign governments b. private individuals c. businesses d. everyone holding any part of the debt e. itself