After taking out a one year loan with an annual interest rate of 10 percent, Tommy pays $3,300 back to the bank. The principal of the loan must be ___________ and the interest payment must be ___________.

When the price level increases, total planned real expenditures on goods and services falls. All of the following are responsible EXCEPT

A) the interest rate effect. B) the real-balance effect. C) the substitution effect. D) the open economy effect.

The takeover process does not use up capital; it merely redistributes it

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