The percentage return on a loan expressed in terms of goods and services is the
A) real wage rate.
B) CPI interest rate.
C) real interest rate.
D) nominal wage rate.
E) nominal interest rate.
C
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Why is market definition important for economic decision making?
A) A firm is interested in knowing its actual and potential competitors. B) A firm will define its market in order to maximize revenue. C) Government regulators are interested in knowing the effect of mergers and acquisitions on competition and prices in a particular market. D) both A and C E) both A and B
Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, and Andy has an income of $14.50, how many units of potato chips will he consume?
A) 5 B) 6 C) 7 D) 8 E) none of the above
Which of the following industries would be considered to have a labor intensive production process?
A. Printing a novel B. Farming in a poor country C. Building a road. D. Driving a truck.
After an extended period of steady inflation at a constant rate,
a. people will anticipate inflation. b. actual unemployment will approximate the natural rate of unemployment. c. actual unemployment will be less than the natural rate of unemployment. d. both a and b are true.