(Ignore Income Taxes in This Problem

question 13

Multiple Choice

(Ignore income taxes in this problem.) You have deposited $8,369 in a special account that has a guaranteed interest rate of 13% per year. If you are willing to completely exhaust the account, what is the maximum amount that you could withdraw at the end of each of the next 8 years? Select the amount below that is closest to your answer.

• A) $1,046
• B) $1,744
• C) $2,134
• D) $1,182

Recognize the role of education in enhancing labor productivity.

Delineate the contribution of research and development (R&D) to technological progress and economic growth.

Identify the patterns and trends in U.S. productivity and GDP growth historically.

Understand the concept and implications of industrial policy and clusters in economic development.