Solve. -Michaelʹs Bank Contains Only Nickels, Dimes, and Quarters. There Are

question 32

Multiple Choice

Solve.
-Michaelʹs bank contains only nickels, dimes, and quarters. There are 59 coins in all, valued at $4.75. The number of nickels is 1 short of being three times the sum of the number of dimes and quarters
Together. How many dimes are in the bank?

• A) 44
• B) 7
• C) 8
• D) 13

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Definitions:

Rational Expectationists

Economic theorists who believe individuals make predictions based on available information and in a way that errors cancel out over time.

Recessionary Gaps

A situation in macroeconomics where the real GDP is lower than the potential GDP, indicating underutilized resources and less-than-full employment in the economy.

Inflationary Gaps

Situations where the demand for goods and services exceeds the production capacity of the economy, leading to an upsurge in price levels.

Classical Economists

A group of economists in the 18th and 19th centuries who believed in free markets, the self-regulating nature of economies, and the importance of competition.