Busn 602 Midterm Exam Answers

BUSN 602 Midterm Exam Answers

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BUSN602 Midterm Exam

Part 1 of 1 – 100.0 Points

Question 1 of 20 5.0 Points

Jill Clinton puts $1,000 in a savings passbook that pays 4% compounded quarterly. How much will she have in her account after five years?

A.$1,200.50

B.$1,220.20

C.$1,174.80

D.$1,217.50

Question 2 of 20 5.0 Points

An increase in inflation should:

A.increase the demand for loanable funds

B.decrease the interest rate on loans

C.increase the interest rate on loans

D.none of the above

Question 3 of 20 5.0 Points

Economists use a ___________________ framework to explain how the prices and quantities of goods and services are determined in a free-market economic system.

A.opportunity

B.marginal cost

C.supply-and-demand

D.anti-monopoly

E.none of the above

Question 4 of 20 5.0 Points

The future value of $100 received today and deposited at 6 percent for four years is

A.$126.

B.$ 79.

C.$124.

D.$116.

Question 5 of 20 5.0 Points

All of the following are important components of a financial system except:

A.government and private policy makers

B.a monetary system

C.the international monetary fund

D.financial institutions and markets

Question 6 of 20 5.0 Points

In general, the effective rate of interest on a discount loan

A.is lower than that on standard loan

B.is higher than that on a standard loan

C.is identical to that on a standard loan

D.none of the above

Question 7 of 20 5.0 Points

Because of the financial crisis that began in 2008, by the end of 2009:

A.unemployment was in excess of 10 percent

B.many homeowners owed more money on their...