The nominal interest rate equals:
a. the real interest rate minus the inflation rate.
b. the inflation rate minus the real interest rate.
c. the real interest rate plus the inflation rate.
d. none of the above.
b
Economics
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Total utility is maximized when a consumer has spent all of his or her income and
A) spent equal amounts on all goods. B) marginal utility is maximized. C) the total utility per dollar from all goods is equal. D) the marginal utility per dollar from all goods is equal.
Economics
In the short run, if a perfectly competitive firm is producing at a price below average total cost, its economic profit is:
a. positive. b. zero. c. negative. d. normal.
Economics