If the inflation rate is 6% and the real interest rate is 4%, then the nominal interest rate is around

The invention of the Bessemer converter in 1856:

a. increased the cost of continuous and coordinated operations of a steel industry. b. motivated downstream integration of the steel industry into coal mining. c. increased the efficient scale of steel production. d. increased volumetric interdependence between different stages of steel production.

If the price of good X (measured on the horizontal axis of a budget line diagram) increases at the same time that the price of good Y (measured on the vertical axis) decreases, the budget line

a. will become flatter b. will become steeper c. could become either steeper or flatter, depending on the sizes of the price changes d. will rotate about its original point of intersection with the horizontal axis e. will shift outward, but not in a parallel fashion