Topic
Q:
ASK YOUR TEACHER
If you lend \( \$ 3000 \) to a friend for 15 months at \( 8 \% \) annual simple interest, find the future value of the loan.
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Q:
ASK YOUR TEACHER PRACTICE ANOTHER
If you borrow \( \$ 600 \) for 6 months at \( 6 \% \) annual simple interest, how much must you repay at the end of the 6 months?
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Q:
QUESTION 24
The economizing problem is essentially one of deciding how to make the best use of
a. unlimited resources to satisfy unlimited wants.
b. limited resources to satisfy limited wants.
d. unlimited resources to satisfy limited wants.
Q:
\( \$ 15,000 \) is invested for 3 months at an annual simple interest rate of \( 2 \% \).
(a) How much interest will be earned?
\( \$ \) (b) What is the future value of the investment after 3 months?
\( \$ \)
Q:
\( \$ 17,000 \) is invested for 7 years at an annual simple interest rate of \( 19 \% \).
(a) How much interest will be earned?
\( \$ \) (b) What is the future value of the investment at the end of the 7 years?
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Q:
QUESTION 20
Sebastian drinks Mountain Dew. He can buy as many cans of Mountain Dew as he wishes at a price of \( \$ 0.50 \) per can. On a
particular day, he is willing to pay \( \$ 0.95 \) for the first can, \( \$ 0.80 \) for the second can, \( \$ 0.60 \) for the third can, and \( \$ 0.40 \) for the
fourth can. Assume Sebastian is rational in deciding how many cans to buy. His consumer surplus is
a. \( \$ 1.05 \).
b. \( \$ 0.85 \).
c. \( \$ 1.20 \).
Q:
QUESTION 18
The actual burden of a tax
a. falls most heavily on the side of the market that is more elastic.
b. falls most heavily on the side of the market that is more inelastic.
d. falls entirely on the side of the market on which the tax is statutorily imposed.
celdendently of relative elasticities of supply and demand.
Q:
Licensing is a process in which a firm wanting to enter a market must
a. pay all overdue taxes before entering the market.
b. notify the government within a certain period after it has entered the market.
d. obtain permission from the government to enter the market.
Q:
The normal rate of return on equity capital is also known as
a. economic profit.
b. the opportunity cost of capital.
c. the explicit cost of capital.
d. the marginal cost of capital.
Q:
QUESTION 3
If the price elasticity of demand (in absolute value) is computed for two products, and product A measures 0.65 , and
product B measures 1.3 , then
a. product B is more price elastic than product A.
b. product B is more price inelastic than product A.
d. products A and B have the same price elasticity of demand.
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