If you invest $1,000 in a savings account and the annual interest rate is 3.6 percent, your account balance will double in value in approximately _____

Refer to Figure 3-6. The figure above represents the market for coffee grinders. Compare the conditions in the market when the price is $15 and when the price is $21. Which of the following describes how the market differs at these prices?

A) At each price the demand for coffee grinders exceeds the supply of coffee grinders. B) At each price there is a shortage; firms will raise the equilibrium price in order to eliminate the shortage. C) At each price there is a shortage; the shortage is greater at $15 than at $21. D) The difference between quantity supplied and quantity demanded is greater at $21 than at $15.

If the government faced a balanced budget rule, it would be forced to raise taxes or decrease spending during a recession

a. True b. False Indicate whether the statement is true or false