If the expected inflation rate was 2.5%, the expected real interest rate was 4.0%, and the real interest rate turned out to be 5.1%, then the nominal interest rate equals

The quantity demanded in a market depends on many things, but the concept of elasticity focuses on the effect of changes in the price of the good

a. True b. False Indicate whether the statement is true or false

If a firm cannot cover its variable costs, it will

A. operate in the short run and stay in business in the long run. B. operate in the short run and go out of business in the long run. C. shut down in the short run and stay in business in the long run. D. shut down in the short run and go out of business in the long run.