Busn 602 Midterm Exam Answers

BUSN 602 Midterm Exam Answers
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BUSN602 Midterm Exam


Part 1 of 1 – 100.0 Points

Question 1 of 20 5.0 Points
Jill Clinton puts $1,000 in a savings passbook that pays 4% compounded quarterly. How much will she have in her account after five years?


A.$1,200.50
B.$1,220.20
C.$1,174.80
D.$1,217.50



Question 2 of 20 5.0 Points
An increase in inflation should:


A.increase the demand for loanable funds
B.decrease the interest rate on loans
C.increase the interest rate on loans
D.none of the above



Question 3 of 20 5.0 Points
Economists use a ___________________ framework to explain how the prices and quantities of goods and services are determined in a free-market economic system.


A.opportunity
B.marginal cost
C.supply-and-demand
D.anti-monopoly
E.none of the above



Question 4 of 20 5.0 Points
The future value of $100 received today and deposited at 6 percent for four years is


A.$126.
B.$ 79.
C.$124.
D.$116.



Question 5 of 20 5.0 Points
All of the following are important components of a financial system except:


A.government and private policy makers
B.a monetary system
C.the international monetary fund
D.financial institutions and markets



Question 6 of 20 5.0 Points
In general, the effective rate of interest on a discount loan


A.is lower than that on standard loan
B.is higher than that on a standard loan
C.is identical to that on a standard loan
D.none of the above



Question 7 of 20 5.0 Points
Because of the financial crisis that began in 2008, by the end of 2009:


A.unemployment was in excess of 10 percent
B.many homeowners owed more money on their...