According to the substitution effect, an increase in the price of oranges will: a. leave consumers with less money to spend on all goods. b. cause consumers to spend more on oranges because a higher price signals that oranges are better than apples. c. cause consumers to consume fewer apples because more money is spent on oranges. d. cause consumers to replace some oranges with other fruit that is now relatively cheaper than oranges.

1. what is the amount of interest earned after two years on a $100 deposit paying 4 percent simple interest annually? $8.00 $4.08 $8.16 $4.00 2. what is the amount of compound interest earned after three years on a $100 deposit paying 8 percent interest annually? $24.00 $8.00 $16.64 $25.97 3. a business just took out a loan for $100,000 at 10% interest. if the business pays the loan off in three months, how much did the business pay in interest? $2,500.00 $10.00 $250.00 $10,000.00 4. what is the annual percentage yield (apy) for a deposit paying 5 percent interest with monthly compounding? 5.00% 5.12% 79.59% 0.42%