If the nominal interest rate is 9 percent and the real interest rate is 3 percent, then the inflation rate is
a. -6 percent.
b. 3 percent.
c. 6 percent.
d. 12 percent.
c
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Which of the following is likely to be a characteristic of a developing economy?
A. The export of only manufactured goods The efficient use of labor B. A high rate of economic growth C. A low rate of growth of population D. A high rate of illiteracy
A shift in demand occurs when
A) the price of that good changes. B) the amount demanded of a good changes at each existing price. C) there is a change in quantity demanded. D) the price changes and the good is a normal good.
Suppose the football team at your university wins 10 games in a row. The following will be a possible outcome of this event in the market for football tickets:
A. The equilibrium price and the equilibrium quantity will increase B. The equilibrium price will decrease and the equilibrium quantity will increase C. The equilibrium price and the equilibrium quantity will decrease D. The equilibrium price will increase and the equilibrium quantity will decrease
A feature that distinguishes economists' approach to making choices is (are):
A) assigning opportunity costs a major role in their analyses of choices. B) assuming individuals make choices to maximize objectives. C) emphasizing that choices are made at the margin. D) all of the above.