What is the main advantage of using money instead of bartering?
A. Many more people today use money than bartering to get goods and services.
B. Not all countries use the same types of money in their economies.
C. Money comes in many different values to pay for goods and services.
D. People do not have to have a good or service that another person wants.
C
Increased productivity most often leads to:
A. higher standards of livings
B. better educational opportunities
C. shorter working hours
D. lower profits and outputs
A
XYZ Gaming Inc. wants to invest in some new goods and services to raise its overall productivity. Which of these would be the best choice?
A. bigger desks for workers
B. faster Internet service
C. A new lunchroom
D. health training for employees
A or B?
I agree with your answers. 3 could be either B or D.
Thanks. Just a question- can 2. be C?
It's highly unlikely.
The last one is B
What is it called when prices rise at a high rate?
A.
interest rate
B.
net export
C.
inflation
D.
taxes
C. inflation
Which of these events would most likely lead to a rise in interest rates for home mortgages?
A.
The prices of homes for sale in a certain city rise by a great deal.
B.
Many new lenders begin offering home mortgages.
C.
Home sales increase greatly for several months in a row.
D.
The average time needed to sell a house doubles.
A. The prices of homes for sale in a certain city rise by a great deal.
Jayden opens a savings account with $100.00. His account earns 4% simple interest annually. How much money will be in his account one year later if he makes no deposits or withdrawals?
A.
$96.00
B.
$100.00
C.
$104.00
D.
$148.00
C. $104.00
Explanation:
To find the total amount in the account after one year, we need to add the interest earned to the principal (original amount).
Interest earned = Principal x Rate x Time
Here, Principal = $100.00, Rate = 4% (as a decimal, 0.04), and Time = 1 year.
Therefore, Interest earned = $100.00 x 0.04 x 1 = $4.00
Total amount in the account after one year = Principal + Interest earned = $100.00 + $4.00 = $104.00.
Rohan has $100.00 that he wants to save in a bank. Bank A offers two types of savings accounts. One has a 5% simple interest rate, and the other has a 4.8% compound interest rate. Bank B also offers two types of savings accounts. One has a 3% simple interest rate, and the other has a 4% compound interest rate.
Use the passage to answer the question.
Which account should Rohan choose in order to earn the most interest after leaving the account open for 5 years?
A.
Bank A simple interest account
B.
Bank A compound interest account
C.
Bank B simple interest account
D.
Bank B compound interest account
B. Bank A compound interest account
Explanation:
To find which account earns Rohan the most interest after 5 years, we need to calculate the total amount in each account at the end of 5 years.
For Bank A simple interest account:
Interest earned per year = Principal x Rate
Interest earned per year = $100.00 x 0.05 = $5.00
Total interest earned after 5 years = Interest per year x Time
Total interest earned after 5 years = $5.00 x 5 years = $25.00
Total amount in account after 5 years = Principal + Total interest earned
Total amount in account after 5 years = $100.00 + $25.00 = $125.00
For Bank A compound interest account:
Total amount in account after 5 years = Principal x (1 + Rate)^Time
Total amount in account after 5 years = $100.00 x (1 + 0.048)^5 = $122.04
For Bank B simple interest account:
Interest earned per year = Principal x Rate
Interest earned per year = $100.00 x 0.03 = $3.00
Total interest earned after 5 years = Interest per year x Time
Total interest earned after 5 years = $3.00 x 5 years = $15.00
Total amount in account after 5 years = Principal + Total interest earned
Total amount in account after 5 years = $100.00 + $15.00 = $115.00
For Bank B compound interest account:
Total amount in account after 5 years = Principal x (1 + Rate)^Time
Total amount in account after 5 years = $100.00 x (1 + 0.04)^5 = $121.67
Based on these calculations, it is clear that the Bank A compound interest account earns Rohan the most interest after 5 years, with a total of $122.04 in the account. Hence, Rohan should choose Bank A compound interest account.
Which of these is a non-monetary positive incentive for entrepreneurs?
A.
the need to hire and train workers
B.
the risks of starting a new enterprise
C.
the satisfaction of creating new products
D.
the responsibilities of running a business
C. the satisfaction of creating new products.
Which of these people is an example of an entrepreneur?
A.
Malia started selling jewelry she made in an online store.
B.
Liam found a summer job walking dogs in his neighborhood.
C.
Pavel worked hard to learn to speak a foreign language.
D.
Ophelia took classes in painting and drawing at an art center.