Determine the Rate of Return (Yield) on a Savings Account

question 71

Multiple Choice

Determine the rate of return (yield) on a savings account in which you deposited $300.00 and earned $6.00 in interest after one year.

• A) 5.00%
• B) 0.05%
• C) 2.00%
• D) 0.20%
• E) 18.00%

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Definitions:

Real Wages

Wages adjusted for inflation, reflecting the true purchasing power of an individual’s income over time.

Growing Population

An increase in the number of individuals in a population, typically due to birth rates exceeding death rates.

American Federation

A large, national labor union organization in the United States.

Industrial Organizations

A field of economics dealing with the strategic behaviors of firms, market competition, antitrust laws, and the regulation of industries to promote competition and economic efficiency.