Question
Between the end of 2010 and the end of 2011, the nominal interest rate increased from 6% to 7% and the CPI increased from 130.0
Between the end of 2010 and the end of 2011, the nominal interest rate increased from 6% to 7% and the CPI increased from 130.0 to 132.08.
part 1) What was the real interest rate in 2011?
part 2) Was the real interest higher in 2010 or 2011? Explain
Please show the steps, thank you
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Microeconomics
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
1st Edition
978-1464146978, 1464146977
