When the price level rises and increases the demand for money, the nominal interest rate ________ and the real interest rate ________.
A) falls; rises
B) rises; falls
C) rises; rises
D) falls; falls
E) does not change; does not change
Question 2
Which of the following is true?
i. A rational choice is always made in the pursuit of social interest.
ii. Economics is a social science.
iii. Economists try to understand how the economic world works by testing positive statements.
A) only i B) ii and iii C) only ii D) i and ii E) only iii
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