You borrow $10,000 from a bank for one year at a nominal interest rate of 5%. The CPI over that year rises from 180 to 200. What is the real interest rate you are paying?
A) 15% B) 5% C) -1.1% D) -6.1%
D
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The right to openly support and democratically select national leaders is
A) political freedom. B) capital freedom. C) population freedom. D) economic freedom.
Which of the following is an economic argument used to explain why slavery persisted in the U.S.?
(a) Slavery crushed out individualism among slaves. (b) The social structure of slavery did not permit black leaders to lead revolts. (c) Slavery was an overall moral institution. (d) Slavery was a rational institution.
Gross national product in terms of the income method is equal to national income plus indirect business taxes minus the capital consumption allowance
a. True b. False Indicate whether the statement is true or false
An increase in the stock of capital: a. causes a movement from a point on an economy's production possibilities curve to a point inside the curve. b. causes an economy's production possibilities curve to shift inward over time
c. causes an economy's production possibilities curve to shift outward over time. d. has no effect on the position of an economy's production possibilities curve over time.