Four banks are offering the same interest rate of 4%. Where do you invest?
A) Bank A compounds interest on a yearly basis.
B) Bank B compounds interest on a monthly basis.
C) Bank C compounds interest on a daily basis.
D) I am indifferent between banks.
C
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Refer to the game between James and Theodore depicted in Figure 12.2. Which of the following is true?
A. If James chooses Up, Theodore's best response is to choose Left.
B. If James chooses Down, Theodore's best response is to choose Left.
C. If Theodore chooses Left, James's best response is to choose Down.
D. If Theodore chooses Right, James's best response is to choose Up.
What is the proper sequence of the phases of a business cycle?
A) peak, contraction, trough, expansion, recovery B) peak, contraction, recovery, trough, expansion C) peak, contraction, trough, recovery, expansion D) contraction, peak, trough, recovery, expansion E) recovery, trough, peak, expansion, contraction
A constant-cost industry is one in which:
A. input prices do not change as output changes in the long run. B. supply is highly inelastic. C. the short-run supply curve is horizontal. D. All of these
At the short-run break-even point, the firm is
A) earning zero accounting profit. B) losing money. C) earning zero economic profit. D) ready to shutdown.