You deposit $10,000 in a savings account today. If the interest rate is 3%, what is the value in 20 years?
What will be an ideal response?
FV = PV(1 + i)n = 10,000(1.03)20 = $18,061
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Between 1973 and 1995, productivity in the United States had
A. been rising at a faster rate than it was before 1973. B. been rising at a slower rate than it was before 1973. C. been rising at about the same rate as it was before 1973. D. not risen.
Assume the graph shown represents Grace's budget constraint. Which of the following is true?
A. Grace's total utility is constant along her budget constraint. B. Grace's total expenditure is constant along her budget constraint. C. Grace's marginal utility of each good is the same for each combination of goods on her budget line. D. Grace is indifferent between consuming any bundle that lies on the budget constraint.
Answer the following statements true (T) or false (F)
1. The "stimulus package" that the government implemented in response to the Great Recession of 2007-09 made the cyclically-adjusted budget of the U.S. have a very large positive balance in that time period. 2. The so-called "recognition lag" associated with fiscal policy is a result of how slowly the U.S. Congress moves. 3. The concept of a "political business cycle" implies a misuse of fiscal policy making it a source of economic instability. 4. The impact of an expansionary fiscal policy may be strengthened if it crowds out some private investment spending.
A right granted by government to an inventor to be the exclusive seller of that invention for a limited period of time is called a
A. copyright. B. trademark. C. patent. D. tangible asset.