If the rate of inflation is 4 percent and the real interest rate is 3 percent, the nominal interest rate should be
A. 1 percent
B. 4 percent
C. 7 percent
D. 11 percent
Answer: C. 7 percent
Economics
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Of the following, consumer surplus is largest for
A) a perfectly competitive industry. B) a single-price monopoly. C) any price-discriminating monopoly. D) a perfectly price-discriminating monopoly.
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The ability to use one resource to provide different products and services is
A) economies of scale. B) economies of scope. C) diversification. D) vertical integration.
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Which of the following categories of goods and services is included in the CPI?
a. food b. transportation c. housing d. All of these.
Economics
Refer to the accompanying figure. The equilibrium price is ________, and the equilibrium quantity is ________.
A. $30; 15 B. $25; 5 C. $25; 20 D. $35; 20
Economics