During a certain year, the consumer price index increased from 120 to 132 and the purchasing power of a person's bank account increased by 4 percent. For that year,
a. the nominal interest rate was 6 percent.
b. the nominal interest rate was 14 percent.
c. the inflation rate was 12 percent.
d. the inflation rate was 9 percent.
b
Economics
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Suppose the production possibilities for two countries, producing either food or clothing, are shown in the above figure. They can each produce any linear combination as well. Once free trade is allowed, Canada will produce
A) no clothing. B) 10 units of clothing. C) 20 units of clothing. D) 5 units of clothing.
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The hypothesis that people believe that the BEST indicator of the future is the recent past is
Economics