Which of the following countries had an unemployment rate in excess of 20% as of late 2012?

A closed economy is one that

a. uses tariffs. b. uses quotas to restrict trade. c. uses exchange controls. d. does not trade with other nations.

The real interest rate is defined as the:

A. actual interest rate. B. fixed-rate on consumer loans. C. nominal interest rate minus the inflation rate. D. expected interest rate minus the inflation rate.