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The discussion of the template model of object recognition pointed out that
Nominal Interest Rate
The interest rate stated on a loan or investment agreement, without adjustment for inflation.
After-tax Real Interest Rate
The interest rate received by lenders or paid by borrowers, adjusted for inflation and taxes, that reflects the true cost of borrowing or real yield on savings.
Inflation Rate
The speed at which the overall price level of goods and services increases, diminishing the buying power progressively.
Deflation
A decrease in the general price level of goods and services, often indicating a contraction in the supply of money and credit in an economy.
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