You receive $2,000 today which you plan to save for 15 years. If the interest rate is 4 percent, what is the future value of this $2,000?

Suppose a plaintiff hires a lawyer to represent her in a court case. The lawyer will receive a share of the settlement if the plaintiff wins. Under this contract

A) efficiency cannot be achieved. B) the client bears all of the risk. C) the lawyer bears all of the risk. D) the risk is shared.

Which of the following best defines the vicious circle of poverty?

a. Countries are poor because of lack of education and training for workers. b. Countries are poor because of poor international credit. c. Countries are poor because of high population growth. d. Countries are poor because they cannot afford to save and invest.