If You Purchase an Automobile for $20,000 in 2004 and Inflation

question 16

Multiple Choice

If you purchase an automobile for $20,000 in 2004 and inflation is 4 percent, how much would a similar automobile sell for four years from then? To solve this problem you would use the formula for the

• A) bank discount.
• B) future value of a lump sum.
• C) internal rate of return.
• D) present value of a lump sum.

Understand the factors that cause shifts in labor demand.

Comprehend the impact of technological changes on labor demand and productivity.

Analyze the effects of changes in the price of capital and labor on employment decisions.

Identify industry trends and growth occupations in the U.S. economy.