Sharone Had a Net Worth at the Beginning of the Year

question 99

Multiple Choice

Sharone had a net worth at the beginning of the year of $22 000 and she saved $1000, earning 3 percent for one year. During the year she saved $50 each week from her pay cheque in a no-interest chequing account. How much is her net worth at the end of the year?

• A)$25 000
• B)$25 630
• C)$25 600
• D)$23 030

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Definitions:

Market Transactions

The processes involved in buying or selling goods and services in a market between buyers and sellers.

Ultimatum Game

A game in experimental economics in which two players decide on how to divide a sum of money; one player proposes a division, and the other can accept or reject it.

Dictator Game

An experimental game in economics where one player (the "dictator") determines how to split an endowment between themselves and another player.

Neoclassical Economics

A framework within economics that predominantly focuses on the determination of goods, outputs, and income distributions in markets through supply and demand as mediated by prices.