On January 1, 2010, a homeowner borrowed $5,000 for a term of six months to complete some home improvements, paying an annual interest rate of 8 percent. How much principal and interest will the homeowner pay back on July 1, 2010?

If leisure were an inferior good, then labor supply curves

a. would all be negatively sloped. b. would all be positively sloped. c. would all be vertical. d. could still be positively or negatively sloped.

Open Market Operations occur when a Central Bank:

(a) Reduces spending. (b) Buys and sells bonds and securities. (c) Increases taxation. (d) Increases the exchange rate.