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  • Latihan Ekonomi 3

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    Nana mi
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    To withdraw $800 in year 1, $900 in year 2, $1000 in year 3, and so on over 5 years from an account earning 5% annual interest compounded requires an initial deposit of $4,000. Institutions refer to the formal and informal rules that define acceptable behavior in a society. The principle of "there is no free lunch" illustrates the concept of opportunity cost. Economics can be divided into microeconomics, which focuses on individual decision-making units, and macroeconomics, which looks at an overall economy. Increased economic activity at the end of the year is considered a seasonal change.

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    LATIHAN EKONOMI 3

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    To withdraw $800 in year 1, $900 in year 2, $1000 in year 3, and so on over 5 years from an account earning 5% annual interest compounded requires an initial deposit of $4,000. Institutions refer to the formal and informal rules that define acceptable behavior in a society. The principle of "there is no free lunch" illustrates the concept of opportunity cost. Economics can be divided into microeconomics, which focuses on individual decision-making units, and macroeconomics, which looks at an overall economy. Increased economic activity at the end of the year is considered a seasonal change.

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    © All Rights Reserved
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    8 views1 page

    Latihan Ekonomi 3

    Uploaded by

    Nana mi
    To withdraw $800 in year 1, $900 in year 2, $1000 in year 3, and so on over 5 years from an account earning 5% annual interest compounded requires an initial deposit of $4,000. Institutions refer to the formal and informal rules that define acceptable behavior in a society. The principle of "there is no free lunch" illustrates the concept of opportunity cost. Economics can be divided into microeconomics, which focuses on individual decision-making units, and macroeconomics, which looks at an overall economy. Increased economic activity at the end of the year is considered a seasonal change.

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    © All Rights Reserved
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    LATIHAN EKONOMI 3

    1. Principles of Engineering Economic Analysis and the Time Value of Money.


    If You want to be able to withdraw $800 from a savings account at the end of year 1,
    $900 at the end of year 2, $1,000 at the end of year 3, and so on over a total of 5 years.
    How much must be deposit right now, at the end of year 0, to just deplete the account
    after the 5 withdraws if the interest is 5% compounded annually?

    2. The term institutions, as used in economics, is best defined as


    a. The knowledge regarding how the world works and how to produce
    b. Any organizations that seek to promote the social interest.
    c. The formal and informal rules agreed upon by society that define what behaviors
    are acceptable.
    d. The banks that lend money to entrepreneurs

    3. The adage "there is no such thing as a free lunch" is used to illustrate what
    economic principle?

    4. Classify economics into micro and macroeconomics.

    5. Economic activity, especially retail sales, increases markedly at the end of the year.
    Is this change secular, seasonal, cyclical, or random?

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