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Author Question: The market price of a factor of production that is in fixed supply is determined only by demand. ... (Read 191 times)

kshipps

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on: Jun 29, 2018
The market price of a factor of production that is in fixed supply is determined only by demand.
 
  Indicate whether the statement is true or false

Question 2

Imagine that you borrow 1,000 for one year and at the end of the year you repay the 1,000 plus 100 of interest. If the inflation rate was 7, what was the real interest rate you paid?
 
  A) 17 percent B) 10 percent C) 7 percent D) 3 percent
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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Liddy

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Reply #1 on: Jun 29, 2018
Answer to Question 1

TRUE

Answer to Question 2

D


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