6. You deposit $2000 in a savings account, and a year later you have $2100. Meanwhile, the...
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6. You deposit $2000 in a savings account, and a year later you have $2100. Meanwhile, the consumer price index rises from 200 to 204. In this case, what are the nominal interest rate and the real interest rate, respectively?
a. 1 percent; 5 percent
b. 3 percent; 5 percent
c. 5 percent; 1 percent
d. 5 percent; 3 percent
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Related Book For
Principles Of Macroeconomics
ISBN: 9780176591977
7th Canadian Edition
Authors: N. Mankiw, Ronald Kneebone, Kenneth McKenzie
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