The CPI was 220 in 2012 and 231 in 2013 . Phil borrowed money in 2012 and repaid the loan in 2013 . If the nominal interest rate on the loan was 10 percent, then the real interest rate was
a. -5 percent.
b. -1 percent.
c. 5 percent.
d. 3.2 percent.
c
Economics
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The market demand schedule in perfect competition is horizontal
a. True b. False Indicate whether the statement is true or false
Economics
If the economy is simultaneously in long-run and short-run equilibrium, which of the following is true?
a. Aggregate quantity supplied is greater than potential output. b. Aggregate quantity demanded is less than potential output. c. Aggregate quantity demanded is equal to potential output. d. The aggregate demand curve is horizontal at the potential output level.
Economics