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Sublight2097 Sublight2097
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Posts: 4132
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8 years ago
Mr. Jones, an elderly man living on his retirement, pulls $100,000 from certificates of deposit (CDs), which were returning an annual rate of return of 5%. He thinks the credit freeze is over and stock markets are headed up, but ends up losing 40% in his first year of investing. What was Mr. Jones's rate of economic profit?
A) 5%
B) 35%
C) -35%
D) -40%
E) -45%
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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Chimelo46Chimelo46
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8 years ago
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Sublight2097 Author
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#2
8 years ago
I've noticed they use a lot of trickery with their questions. Thank you for your input.
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#3
8 years ago
The textbook reference in your signature really helped me narrow it down.

Happy to help Wink Face
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