If the real interest rate is 10.3% and the nominal interest rate is 12.6%, what is the inflation rate?
The inflation rate is 2.3%.
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Most of the world's currencies are backed by some type of commodity
Indicate whether the statement is true or false
A strategy is weakly dominated if:
A. there are no other strategies that yield higher payoffs, regardless of others' choices. B. there is some other strategy that yields a strictly higher payoff regardless of others' choices. C. there is some other strategy that yields a strictly higher payoff in some circumstances and that never yields a lower payoff regardless of others' choices. D. there is some other strategy that yields a strictly higher payoff in some circumstances and may yield a lower payoff, depending upon other players' choices.
The good news for unions and their members is that union workers earn about 20% more than nonunion workers, even after adjusting for factors such as years of work experience and education level. What is the bad news?
a. In the 1930s, union members earned 37% more than nonunion members, after adjusting for inflation. b. Most unionized companies were driven out of business, leaving only about 5% of U.S. workers in unions. c. The percentage of U.S. workers who belong to labor unions has declined steadily for 50 years. d. As union membership rises, the wage gap will shrink.
Some nations are increasing the amount of land covered by forests, while others are experiencing rapid deforestation. According to economists, this is largely because:
A. different nations have different ethical views regarding treatment of the environment. B. nations with increasing forest cover have poorly enforced or nonexistent property rights. C. nations with declining forest cover treat forests as private property or strictly regulated government property. D. nations with increasing forest cover treat forests as private property or strictly regulated government property.