Explain the differences among the nominal interest rate, the real interest rate, and the expected real interest

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Explain the differences among the nominal interest rate, the real interest rate, and the expected real interest rate. Which interest rate concept is the most important for the decisions made by borrowers and lenders? Why?
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Macroeconomics

ISBN: 978-0321675606

6th Canadian Edition

Authors: Andrew B. Abel, Ben S. Bernanke, Dean Croushore, Ronald D. Kneebone

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