A Professor's Checking Account Balance a Year Ago Was $1470

question 26

Multiple Choice

A professor's checking account balance a year ago was $1470. Currently, it is $1040. Calculate the relative percentage change to the nearest percentage point.

• A) −41%
• B) 29%
• C) 41%
• D) −29%

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Definitions:

Government Intervention

Actions taken by a government to affect the economy or society, which can include regulations, subsidies, tariffs, and direct spending.

Competition

The rivalry among businesses to attract customers and achieve a higher share of the market.

Limited Liability

A legal structure for businesses that protects its owners' personal assets from the company's debts and liabilities.

Corporation

A legal entity that is separate and distinct from its owners, allowing it to own assets, incur liabilities, and conduct business in its name.