Author Question: If the annual interest rate is 4 percent, a consumer who spends 100 today a. will have to pay back ... (Read 65 times)

Marty · **on:** Jun 30, 2018

If the annual interest rate is 4 percent, a consumer who spends 100 today
a. will have to pay back 104 to the bank
b. would have to pay 104 next year to get the same goods
c. will receive 96 from the bank next year
d. would have to pay 96 next year to get the same goods
e. is giving up the ability to spend 104 on goods next year

Question 2

If U.S. consumption falls short of U.S. production, the U.S. imports the difference.
a. True
b. False