Tema
Q:
Real GDP is measured in ___ prices while nominal GDP is measured in ___ prices.
a) foreign; domestic
b) current year; base year
c) domestic; foreign
d) base year; current year
Q:
As an economic concept, scarcity applies to
a) neither time nor money.
b) both money and time.
c) time but not money.
d) money but not time.
Q:
Find out how long it takes a \( \$ 3,300 \)
investment to double if it is invested
at \( 9 \% \) compounded semiannually. Round
to the nearest tenth of a year. Use the
formula \( A=P\left(1+\frac{r}{n}\right)^{\text {nt }} \)
Q:
R25000 is deposited into an account which offers an interest rate of \( 9 \% \) p.
compounded monthly. After 3 years, R6 850 is withdrawn from the accour
How much will be in the account after 10 years?
Q:
Suppose you have \( \$ 12,000 \) to invest.
Which of the two rates would yield
the larger amount in 4 years: \( 9 \% \)
compounded monthly or \( 8.86 \% \)
compounded continvously?
Q:
8.2 An asset has depreciated in value by a quarter of its original value in 9 years
using the reducing balance method. Determine the depreciation rate of this
asset per annum.
Q:
Trudy's taxable income last year was \( \$ 99,650 \). According to the tax table
below, how much tax does she have to pay if she files with the Single status?
Q:
A broker had a taxable income of \( \$ 77,050 \) last year. If she paid \( 10 \% \) of her
income between \( \$ 0 \) and \( \$ 8350,15 \% \) of her income between \( \$ 8350 \) and
\( \$ 33,950 \), and \( 25 \% \) of her income between \( \$ 33,950 \) and \( \$ 77,050 \) in federal
income tax, how much did the broker pay in federal income tax last year?
A. \( \$ 10,775 \)
B. \( \$ 3840 \)
C. \( \$ 835 \)
D. \( \$ 15,450 \)
Q:
Mandy is itemizing deductions on her federal income tax return and had
\( \$ 6200 \) in medical expenses last year. If her AGI was \( \$ 66,000 \), and if medical
expenses are deductible to the extent that they exceed \( 7.5 \% \) of a taxpayer's
AGI, how much can Mandy deduct for medical expenses?
A. \( \$ 1250 \)
B. \( \$ 4950 \)
C. \( \$ 465 \)
D. \( \$ 4485 \)
Q:
A part-time receptionist made \( \$ 9101.99 \) last year. If he claimed himself as an
exemption for \( \$ 3650 \) and had a \( \$ 5700 \) standard deduction, what was his
taxable income last year?
A. \( \$ 5451.99 \)
B. \( \$ 3401.99 \)
C. \( \$ 248.01 \)
D. \( \$ 0 \)
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