If the interest rate is 7 percent, $500 received at the end of nine years is worth how much today?

What is a hyperinflation?

A. It is an inflation rate in excess of 200 percent per year. B. It is a combination of excessive increase in the price level and rising unemployment. C. It refers to a situation where a country's money supply is no longer backed by gold. D. It is a situation in which financial markets collapse and the government is forced to print money.

The series of induced changes in consumption spending that result from an initial change in autonomous expenditure is called the

A) induced effect. B) autonomous effect. C) multiplier effect. D) consumption effect