If the expected inflation rate was 2.5%, the expected real interest rate was 4.0%, and the actual inflation rate turned out to be 3.2%, then the real interest rate equals

Black markets only exist in developing nations

Indicate whether the statement is true or false

With respect to reserve requirements on bank deposits, the Board of Governors can set them

A) at any level the Board desires. B) at any level approved by the Federal Open Market Committee. C) within the bounds of the specific limits imposed by Congress. D) within the bounds of the specific limits set by the Secretary of the Treasury.