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On January 1, Sam took out a $1,000 personal loan from Payday Palace, a hypothetical short-term cash advance company, that charged him a fixed monthly interest rate. On January 31, Sam repaid this loan with interest, for a total repayment of $1,100. The rate of inflation during January was 2%. Which of the answer choices best describes the purchasing power of Payday Palace concerning its loan to Sam?
A. Payday Palace gained purchasing power since it earned $100 in interest from the loan.
B. Payday Palace gained purchasing power since its real return on the loan was positive.
C. Payday Palace lost purchasing power since the interest rate its imposed on the loan was less than the rate of inflation
D. Payday Palace lost purchasing power since its real return on the loan was less than ten percent.
Toys are produced by a competitive industry. Santa Claus gives away one million free toys each year. It costs Santa nothing to produce these toys. Use a diagram to show how the existence of Santa Claus affects the supply of toys, the price of toys, t..
Rent controls place price ceilings on rents at levels below market equilibrium rental rates for the stated purpose of making housing more affordable for low-income families. Using demand and supply analysis, answer the following questions:
q1. using graphical analysis describe the effects of the following events on their respective markets. concisely
To fully understand how taxes affect economic well-being, we must compare the
In a Terrystop context, if the explanation offered by the subject reasonably satisfies the officer that a crime is not occurring or has not already occurred, the officer:
Use the principles of supply and demand to address a predetermined goal (set by you) in the gasoline market. Be clear on what the current market indicates and why and what your future goal is. We will probably revisit some of your choices in future m..
A machine that produces a certain piece must be turned off by the operator after each piece is completed. The machine "coasts" for 15 seconds after it is turned off, thus preventing the operator from removing the piece quickly before producing the ne..
Estimate cost elasticity of demand for education at this university. Is cost elasticity of demand for university tuition elastic or inelastic according to answer in part (i) Why.
Three estimators at Tech Engineering have come up with the estimates of cash flows as shown in the table below for a project with a life of 10 years. Compute the expected NPW at 20%.
Use a supply-demand graph to demonstrate how the quantity and price of medical services are expected to be affected if we went from a world without insurance to a world where the government covered 90% of all medical costs.
Suppose in Belgium the opportunity cost of producing a trombone is 8 clarinets. In Denmark the opportunity cost of producing a trombone is 6 clarinets. Which country has a comparative advantage in the production of trombones?
Jo Brown’s nursery operation has grown from a small herb plot into a thriving nursery business. There are 10 full-time employees and 20 seasonal (part-time) employees. For the last three years taxable income for Brown’s Nursery has been steady at $35..
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