You Put $75 in the Bank One Year Ago and Forgot

question 110

Multiple Choice

You put $75 in the bank one year ago and forgot about it.The bank sends you a notice that you now have $81 in your account.What interest rate did you earn?

• A)5 percent
• B)6 percent
• C)7 percent
• D)8 percent

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Definitions:

Smoot-Hawley Tariff

A U.S. law enacted in 1930, which raised tariffs on thousands of imported goods, contributing to the severity of the Great Depression by stifling international trade.

International Trade War

A situation where countries impose tariffs or other trade barriers against each other in response to disputes, often leading to reduced trade and economic growth.

Dumping

The practice of selling a product in a foreign market at a price below its production cost or domestic price, often aimed at gaining market share or driving out competition.

Export Subsidy

A governmental policy of providing financial support to domestic producers or exporters to encourage exports, lower their prices in global markets, and enhance competitiveness.