If the nominal interest rate on a one-year loan was 7%, the actual inflation rate over the year was 3% and the expected inflation rate over the year was 2.5%, then the expected real interest rate equals

Currently, the United States has an import quota on the amount of sugar that is allowed to be imported into the United States

What would happen to the price of sugar in the United States if the import quota was removed? What would happen to U.S. consumption and U.S. production of sugar?

Which of the following is likely in a monopolized market?

a. a price that exceeds marginal cost b. a price that exceeds marginal revenue c. a welfare loss due to the restriction of output d. all of the above