If the interest rate is 20 percent, $100 to be received four years from today has a present value of approximately

Which of the following was NOT one of the causes of the Asian financial crises of 1997 and 1998?

A) A current account deficit and financial account surpluses B) The use of exports as an engine of economic growth by the countries involved C) China's 1994 devaluation of its fixed exchange rate D) The appreciation of the U.S. dollar and depreciation of the Japanese yen E) Crony capitalism

Which of the following is a key assumption leading to the Monetarist view that government deficits crowd out private investment?

A) Money demand is sensitive to the interest rate. B) The aggregate supply curve is horizontal. C) Technology is fixed. D) Investment is sensitive to the interest rate.