The following table shows the value of the consumer price index and the nominal interest rate for three consecutive years. Nominal Interest Rate Year CPI (Percent) 1 233.0 2.4 236.7 2.5 3 237.0 2.1 Refer to Table 24-5. What was the real interest rate in Year 3? Selected Answer: b. 2.4% Answers: 2.2% а. b. 2.4% 1.8% C. d. 2.0%

The following table shows the value of the consumer price index and the nominal interest rate for three consecutive years. Nominal Interest Rate Year CPI (Percent) 1 233.0 2.4 236.7 2.5 3 237.0 2.1 Refer to Table 24-5. What was the real interest rate in Year 3? Selected Answer: b. 2.4% Answers: 2.2% а. b. 2.4% 1.8% C. d. 2.0%

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter16: Measuring The Cost Of Living

Section: Chapter Questions

Problem 6CQQ

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Similar questions

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