Suppose the nominal interest rate this year is 6.5% and that the economy experiences 2.3% deflation. What is the real interest rate?

Refer to Table 8-30. Based on the table above, what is personal income for this economy?

A) $1,950 billion B) $2,030 billion C) $2,450 billion D) $5,130 billion

Which of the following is NOT true about a tariff?

A) It is a barrier to entry in a market. B) It leads to a natural monopoly. C) It is a tax. D) It affects imported goods.