The Value of a Loan of $2,000 After a Year

question 118

Multiple Choice

The value of a loan of $2,000 after a year at 2 percent interest is:

• A)$4,000.
• B)$2,040.
• C)$2,020.
• D)$2,400.

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Definitions:

Economic Growth

Refers to an increase in a country's output of goods and services over time, often measured as a percentage increase in real GDP.

Political Stability

The degree to which a government is free from turmoil or sudden change, contributing to a predictable economic environment.

Property Rights

Legal rights over the use, control, and benefits of ownership of property, including intangible and tangible assets.

Living Standards

The level of wealth, comfort, materials, and necessities available to a certain socioeconomic class in a certain geographic area.