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16. If the nominal interest rate is 3% and the inflation rate is 1%, what is the real interest rate? A. 2% B. 3.3% C.

16. If the nominal interest rate is 3% and the inflation rate is 1%, what is the real interest rate?

A. 2%

B. 3.3%

C. 1.99%

D. 1.98%

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