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Describe the three levels of listening, starting with the lowest level. What happens as you move from the first to the third level?
Real Incomes
Income of individuals or nations adjusted for inflation, reflecting the purchasing power of the income.
Nominal Interest Payments
The amounts paid by borrowers to lenders as the cost of borrowing money, not adjusted for inflation.
Interest Payments
Money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
Real Values
Economic measures that are adjusted for inflation, reflecting the actual buying power of money or assets.
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