One Thousand Dollars Given to You a Year from Now

question 16

Multiple Choice

One thousand dollars given to you a year from now is worth __________ to you today if the relevant discount rate is 10%.

• A)$1,000
• B)$1,100
• C)$909
• D)$900

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Definitions:

Living Standards

indicate the wealth, comfort, material goods, and necessities available to a person or society, often used as a measure of economic well-being.

Output Per Capita

The average production of goods and services per person, often used as a measure of a country's standard of living or economic performance.

Low-Income Countries

Countries classified as low-income have significantly lower GDP per capita compared to the global average, often indicating limited economic development.

Malnutrition

A condition that results from eating a diet in which one or more nutrients are either not enough or are too much, leading to health problems.