Tony lent Dave 1,000 for one year with the understanding that ...

[rmenurse]

Tony lent Dave 1,000 for one year with the understanding that Dave would repay 1,070 . If the actual inflation rate was 7 percent, then the real rate of interest Tony received is _____.
 a. 14 percent
  b. 7 percent
 c. 4 percent
 d. 0 percent
 e. 7 percent

Question 2

If two or more firms combine or conspire to monopolize trade, this would be in violation of the:
 a. Federal Trade Commission Act.
  b. Clayton Act.
  c. Sherman Antitrust Act.
  d. Robinson-Patman Act.

[connor417]

Answer to Question 1

d

Answer to Question 2

c