Suppose you borrow $2,000 for one year and at the end of the year you repay the $2,000 plus $110 of interest. The expected inflation rate was 2.2% at the time you took out the loan, but the actual inflation rate turned out to be 3.3%
What was the actual real interest rate you paid? A) 2.2%
B) 3.3%
C) 5.5%
D) 8.8%
A
Economics
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A supply curve that is upward sloping means that:
A) demand is being ignored. B) consumers will buy less at lower prices. C) suppliers will want to sell more at higher prices. D) suppliers will want to sell less at higher prices.
Economics
Short run market supply curves are formed by adding up individual firm supply curves in the industry.
Answer the following statement true (T) or false (F)
Economics