The real interest rate is 4% a year. When the expected inflation rate is zero, the nominal interest rate approximately ... % a year; and when the expected inflation rate is 2% a year, the nominal interest rate is approximately ... % a year

When a tariff is applied to a good exported by a foreign monopoly (with no home producer), the increase in the equilibrium price is ________ the tariff applied.

a. more than b. less than c. the same as d. more than twice as much as

The aggregate production function is graphed as

A) a downward sloping curve. B) an upward sloping straight line. C) an upward sloping line that becomes flatter as the quantity of labor increases. D) an upward sloping line that becomes steeper as the quantity of labor increases.