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Author Question: Suppose your bank pays you 5 percent interest per year on your savings account. If prices increase ... (Read 94 times)

WWatsford

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on: Jun 30, 2018
Suppose your bank pays you 5 percent interest per year on your savings account. If prices increase by 5 percent per year over that time, approximately how much real value do you gain by keeping 100 in the bank for a year?
 
  A) 0 B) 1 C) 3 D) 6

Question 2

The point of diminishing returns means that output will decrease at an increasing rate.
 
  Indicate whether the statement is true or false
Macroeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 7th Edition
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TINA

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Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

FALSE


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