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If we look at real and nominal interest rates in the United States since 1976, we see that a the nominal interest rate has always

If we look at real and nominal interest rates in the United States since 1976, we see that

a the nominal interest rate has always been less than the real interest rate because of inflation.

both the nominal and real interest rates were negative in the highly inflationary 1970s.

b at times the nominal interest rate has been greater than the real interest rate and at times has been less than it.

c the real interest rate has almost always been less than the nominal interest rate because of inflation.

d the difference between the nominal and real interest rates has widened during the 1990s because of inflation.

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