The nominal rate of interest is the difference between the real rate and the expected rate of inflation.
Answer the following statement true (T) or false (F)
False
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An economy produces only 1,000,000 computers valued at $2,000 each. Of these, 200,000 are sold to consumers, 300,000 are sold to businesses, 300,000 are sold to the government, and 100,000 are sold abroad. No computers are imported. At the end of the year, the computer manufacturers hold the unsold computers in inventory. What is the value of GDP?
A. $2.0 billion B. $0.9 billion C. $1.0 billion D. $1.8 billion
If official U.S. poverty statistics included in-kind transfer payments the:
a. poverty rate would be close to zero. b. poverty rate would be lower. c. government deficit would be lower. d. top 10 percent of those in the income distribution would be wealthier.
Refer to the graph shown. If this monopolist were forced to set price equal to marginal cost, in the long run it probably would produce:
A. 400 units of output. B. 0 units of output. C. 200 units of output. D. 450 units of output.
Which of the following is the fallacy in the fallacy of composition?
A. Whatever goes up must come down B. Facts are more important than theories C. What is true for the part is necessarily also true for the whole D. If event B occurs after event A, event A must have caused event B