. Suppose Will's Year 1 food expenditures in Year 3 dollars amounted to $5,670. Suppose also that the real interest rate in Year 3 was 3 percent. Then, in Year 3, a. the inflation rate was 8 percent and the nominal interest rate was 5 percent. b. the inflation rate was 9 percent and the nominal interest rate was 6 percent. c. the inflation rate was 8 percent and the nominal interest rate was 1
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. Suppose Will's Year 1 food expenditures in Year 3 dollars amounted to $5,670. Suppose also that th...
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