The consumer price index was 120 in 2013 and 126 in 2014 . The nominal interest rate during this period was 8 percent. What was the real interest rate during this period?
a. 3 percent
b. 2 percent
c. 3.3 percent
d. 12.8 percent
a
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According to the Law of Comparative Advantage,
A) production should be based on who can produce a product lowest opportunity cost. B) production should be based on who can produce more of a good. C) production should take into account strategic interests, such as national security. D) production should be for the people instead of for profit.
Suppose at a price of $50, Yoshi's Jazz Bar sells 20 tickets to its nightly jazz performance and at a price of $40, it sells 25 tickets. Based on this information, the demand for Yoshi's jazz performance is elastic
Indicate whether the statement is true or false
Which of the following would economic freedom lead to?
a. A higher standard of living b. Better living conditions c. Longer life expectancy d. Better education e. All of these
A demand relationship in which a given percentage change in price will result in a larger percentage change in quantity demanded is
A. elastic. B. unit-elastic. C. inelastic. D. consistent with zero elasticity.