The difference between the real interest rate and the nominal interest rate gives the inflation rate in an economy in a particular year

How are most fundamental economic decisions now determined in China?

A) The government decides because China is a centrally planned economy. B) Individuals, firms, and the government interact in a market to make these economic decisions. C) The United Nations decides because China is a developing economy. D) These decisions are made by the country's elders who have had much experience in answering these questions.

Price floors are instituted because the government wants to:

a. help consumers. b. help producers. c. raise tax revenue. d. prevent imports. e. increase demand.