Assume you have a credit card balance of $2,000 at 15 percent and the inflation rate is 3 percent. What are the nominal and real interest rates?
A) 15 percent nominal and 12 percent real
B) 12 percent nominal and 15 percent real
C) 15 percent nominal and 3 percent real
D) 3 percent nominal and 12 percent real
E) 15 percent nominal and 18 percent real
A
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The slope of the consumption function is equal to:
A) the marginal propensity to consume. B) autonomous consumption. C) the marginal propensity to save. D) zero.
The landmark antitrust case which established that size alone can be an antitrust violation is the:
a. U.S. Steel case. b. Brown Shoe case. c. Von's Grocery case. d. ALCOA case. e. Pabst Brewing case.
Economics is the study of decisions made necessary by the problem of unlimited wants and limited means to satisfy them
a. True b. False Indicate whether the statement is true or false
The lemons problem is a situation of
A. a natural monopoly. B. perfect competition. C. price discrimination. D. asymmetric information.