Minimum Rationality Tests Are Applied to Cases Involving ______

question 2

Multiple Choice

Minimum rationality tests are applied to cases involving ______.

• A) race
• B) national origin
• C) legitimacy
• D) marriage
• E) gender

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Definitions:

Nominal Interest Rate

The stated interest rate on a loan or investment, not adjusted for inflation.

Loanable Funds

The money available for borrowing; the market where savers supply funds for loans to borrowers.

Supply

A relation between the price of a good and the quantity that producers are willing and able to sell per period, other things constant.

Demand

Refers to the quantity of a good or service that consumers are willing and able to purchase at various price levels over a given period of time.