The CPI was 220 in 2012 and 231 in 2013 . Phil borrowed money in 2012 and repaid the loan in 2013 . If the nominal interest rate on the loan was 10 percent, then the real interest rate was
a. -5 percent.
b. -1 percent.
c. 5 percent.
d. 3.2 percent.
c
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In the above, as the y variable increases
A) the x variable is constant. B) the x variable increases. C) the x variable decreases. D) the x variable at first increases but then decreases.
Consider the two graphs above. Suppose there is increased concentration in the retail sector (that is, fewer, larger companies). This would ________ the desired level of inventories, as depicted in graph ________
A) increase; B B) increase; A C) decrease; B D) decrease; A
Consider the production possibilities frontier in the figure shown. The opportunity cost of moving from point A to point B is:
A. 5 cars per cigar.
B. 10 cars per cigar.
C. 5 cigars per car.
D. 10 cigars per car.
In Econland exports equal 25 percent of total output, while imports equal 20 percent of total output. Econland has a:
A. budget surplus. B. trade deficit. C. budget deficit. D. trade surplus.