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A lender demands an interest rate in part to compensate for any
expected ___________, so that the money that is repaid in the
future will have at least as much buying power as the money that
was originally loaned.

risk premium
inflation
compound interest

opportunity costs

Dylan enjoys ramen noodles and music downloads. His monthly
budget for these two items is 16 dollars. If the price of a package
of ramen noodles is $0.52 and the price of a music download is
$1.26, what is Dylan’s opportunity cost of a music download? (Round
your answer to the nearest tenth. For example: 1.4).

Amanda likes to eat apples and bananas with her lunch between
classes. She also keeps a close eye on her spending each week since
she is in college and cannot afford the time to work too much. She
has budgeted a certain amount of money each week for apples and
bananas. If she spends all of this budget on apples, she can
purchase 7 apples. If she spends all of the budget on bananas, she
can afford 9 bananas. What is Amanda’s opportunity cost of an
apple? Round your answer to the nearest tenth (one number to the
right of the decimal, for example: 1.4).

Which of the following factors contribute to economic
growth?

an increase in the average wage rate paid to workers
an increase in the standard of living
a decrease in the productivity of labor
an increase in the proportion of the population that is college
educated

Each month the Census Bureau carries out the Current Population
Survey (CPS) (which has been carried out every month since 1940). A
total of __________ households are contacted every month.

600
6000
60,000
600,000