Which of the following is TRUE regarding the real interest rate?
I. The real interest rate is the opportunity cost of borrowed funds.
II. The real interest rate equals the nominal interest rate adjusted for inflation.
A) I
B) II
C) both I and II
D) neither I nor II
C
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The lower the level of income in a country, the
A) less income elastic is the demand for food. B) more income elastic is the demand for food. C) more negative the income elasticity of the demand for food. D) Both answers A and C are correct. E) None of the above is correct.
Given the data in the above table, the marginal revenue curve
A) lies below the demand curve. B) lies above the demand curve. C) intersects the demand curve. D) is equal to the demand curve.
Forming a cartel is illegal in _____
a. the United States b. Canada c. India d. Australia
How much is savings when disposable income is $5 billion?
