You Would Use the ________ Function to Find Out How

question 32

Multiple Choice

You would use the ________ function to find out how much money you would pay on a mortgage loan of $100,000 with a monthly rate of 5%.

• A)PV
• B)FV
• C)PMT
• D)IF

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Definitions:

Protective Tariff

A tariff imposed by a country on imported goods to protect domestic industries from foreign competition by making imported goods more expensive.

Export Subsidy

A government policy to encourage export of goods and discourage sale within the domestic market through direct payments, tax relief for exporters, or subsidizing part of the cost.

Voluntary Export Restriction

An agreement between exporting and importing countries where the exporter voluntarily limits the quantity of goods exported to avoid stronger restrictive measures.

Domestic Equilibrium Prices

Prices of goods and services within a country that are established through the balance of supply and demand without the influence of international trade.