When producers do not produce the efficient amount of a product because they are unable to charge consumers what they are willing to pay for it, then we have a:

According to classical economists,

a. money was a "veil" that determined the nominal values in which such variables as the level of economic activity were measured. b. money can have a temporary impact on output. c. it is the nominal interest rates that matters in decisions to save and invest. d. Both a and b e. Both a and c

Suppose that in some tax year you earned a nominal interest rate of 6 percent. During the time you held these funds inflation was 1 percent. You compute that you made a real after-tax interest rate of 3 percent. What was your tax rate?

a. 40 percent. b. 33.3 percent. c. 25 percent. d. 50 percent.