The relationship between the nominal interest rate, the real interest rate, and the inflation rate is that the
A) real interest rate is equal to the nominal interest rate plus the inflation rate.
B) nominal interest rate is equal to the real interest rate plus the inflation rate.
C) real interest rate is equal to the nominal interest rate multiplied by the inflation rate.
D) nominal interest rate is equal to the real interest rate minus the inflation rate.
E) nominal interest rate is equal to the real interest rate divided by the inflation rate.
B
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U.S. exports
a. represent approximately 50 percent of GDP b. represent approximately 35 percent of GDP c. represent approximately 11 percent of GDP d. consist primarily of agricultural commodities e. consist primarily of metals and other raw materials
Cost efficiency refers to the
A. Amount of output associated with an additional dollar spent on input. B. MPP of labor divided by the product price. C. Effectiveness of labor in reducing production costs. D. Ability to produce at a level of output where the wage rate is equal to or less than the MRP.
When foreigners come to the United States as tourists, they are generating a
A. Supply of U.S. dollars and a supply of a foreign currency. B. Supply of U.S. dollars and a demand for a foreign currency. C. Demand for U.S. dollars and a demand for a foreign currency. D. Demand for U.S. dollars and a supply of a foreign currency.
Exports ________ society's total surplus because of the ________ in price and ________ in production
A) increase; rise; increase B) increase; rise; decrease C) decrease; fall; increase D) decrease; fall; decrease E) increase; fall; increase