The Lowering of Tariffs on Foreign Grain Indicated the

question 40

Multiple Choice

The lowering of tariffs on foreign grain indicated the

• A)power of the growing urban factory workers.
• B)decline in the power of the agricultural sector.
• C)growing power of urban interests.
• D)importance of American grain on the world market.
• E)growing population and inability of domestic wheat production to fulfill domestic needs.

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Definitions:

Nominal Rate of Interest

The stated interest rate of a bond or loan without adjusting for inflation or other factors that affect the true cost of borrowing.

Real Rate of Interest

The interest rate that has been adjusted to remove the effects of inflation, showing the real earning power of an investment.

Inflation Rate

A situation where the overall cost of goods and services climbs, causing the value of money to diminish.

Annual Percentage Rates (APRs)

A measure of the cost of credit, expressed as a yearly interest rate, that includes interest, fees, and other charges associated with the loan.