The average income per capita of a country in its own currency is 75,000 units. If one US dollar is worth 20 units of its currency, the income per capita of the country in dollars is ________

Given a nominal interest rate of 8 percent, in which of the following cases would you earn the highest after-tax real interest rate?

a. Inflation is 5 percent; the tax rate is 40 percent. b. Inflation is 4 percent; the tax rate is 30 percent. c. Inflation is 3 percent; the tax rate is 45 percent. d. Inflation is 2 percent; the tax rate is 50 percent.

Refer to the data. Suppose quantity supplied declined by 23 units at each price, changing the equilibrium price in a direction and amount for you to determine. Over that price range, demand is:

A. elastic.
B. inelastic.
C. perfectly elastic.
D. perfectly inelastic.