An Executive of Trident Communications Recently Traveled to London, Paris

question 25

Multiple Choice

An executive of Trident Communications recently traveled to London, Paris, and Rome. He paid $170, $230, and $150/night for lodging in London, Paris, and Rome, respectively, and his hotel bills totaled $4,240. He spent $110, $130, and $100/day for his meals in London, Paris, and Rome, respectively, and his expenses for meals totaled $2,670. If he spent as many days in London as he did in Paris and Rome combined, how many days did he stay in each city? ​

• A) 14 days in London, 5 days in Paris, 9 days in Rome
• B) 12 days in London, 5 days in Paris, 7 days in Rome
• C) 16 days in London, 7 days in Paris, 9 days in Rome
• D) 7 days in London, 5 days in Paris, 12 days in Rome
• E) 14 days in London, 7 days in Paris, 7 days in Rome

Compare effective rates of interest of different compounding intervals to identify the most beneficial investment option.

Calculate the present value of ordinary annuities and annuities due.

Understand the concepts of demand-pull and cost-push inflation.

Compare and contrast the effects of anticipated vs unanticipated inflation.

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Definitions:

Resources

An input used to produce economic goods. Land, labor, skills, natural resources, and human-made tools and equipment provide examples. Throughout history, people have struggled to transform available, but limited, resources into things they would like to have—economic goods.

Demand Falls

This occurs when there is a decrease in the desire or willingness of consumers to purchase a good at a given price, leading to potential shifts in the market equilibrium.

Economic Losses

Financial losses experienced by businesses or economies due to factors such as poor investments, natural disasters, or reduced consumer spending.

Pizza Suppliers

Businesses that supply pizza ingredients, equipment, or the pizza itself to consumers or other businesses.