The future value of $200 that is left in account earning 6.5% interest for three years is best expressed by which of the following?
A. $200(1.065)3
B. $200(1.065)n
C. $200(1.065)/3
D. $200(1.065) × 3
Answer: A
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Corey has a blue sweater and a denim jacket. On some days he chooses to wear the sweater but on others he chooses to wear the jacket. Economists would most likely conclude that:
A. Corey’s preferences have changed. B. Corey’s preferences have not changed, but other factors may have changed such as the temperature outside. C. Corey is irrational if he wears different clothing on different days. D. Corey is indifferent between wearing a jacket or a sweater.
Suppose a bank has $8 million in deposits and a reserve ratio of 20 percent. Its required reserves are:
A. $40,000. B. $400,000. C. $1,600,000. D. $16,000,000.
When expansionary fiscal and monetary policies are joined with a ________ exchange rate system, the various components of economic policy often interact in ways that lead to a crisis followed by a steep recession
A) fixed B) floating C) crawling peg D) flexible
Inflation
A. has no impact on taxing strategies. B. can be temporarily offset with tax cuts. C. only became a tax problem in the late 1990s. D. generally affects state governments most severely.