Scott used $4,000,000 from his savings account that paid an annual interest of 5% and a $60,000 loan at an annual interest rate of 5% to purchase a hardware store. After one year, Scott sold the business for $4,100,000 . His economic profits is:

The demand for loanable funds is the relationship between loanable funds and the ________ other things remaining the same

A) real interest rate B) nominal interest rate C) inflation rate D) price level

Changes in the quality of some goods and services, such as electromechanical calculators, are thought to give a downward bias to the consumer price index

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