If the Interest Rate Is 10 Percent Per Year, and You

question 151

Multiple Choice

If the interest rate is 10 percent per year, and you have $100,000 now, which of the following is closest to what your $100,000 will be worth in one year?

• A) $105,000
• B) $110,000
• C) $100,000
• D) $102,000

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Definitions:

Supply Stays

A term that is not typically used in economic contexts; thus, it might not be a real key-term. NO.

Price Ceiling

A legally established maximum price a seller can charge for a product or service to prevent market prices from rising too high.

Equilibrium Price

The equilibrium price is the price at which the quantity of a good or service demanded by consumers matches the quantity supplied by producers, resulting in market balance.

Permanent Shortage

Permanent Shortage refers to a situation where the demand for a good or service persistently exceeds its supply, often due to structural issues within the market or supply chain.