At the Start of the Great Awakening

question 34

Multiple Choice

At the start of the Great Awakening,

• A)few colonies had churches.
• B)most colonists lived in a colony with an officially sanctioned church.
• C)most colonists were both literate and college educated.
• D)all colonists were Puritans.
• E)all colonists were Catholics.

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Definitions:

Nominal Rate

The interest rate stated on a loan or investment agreement before any adjustment for inflation or other factors.

Inflation Rate

The percentage increase in the general level of prices for goods and services in a country over a period of time.

Real Rate

The Real Rate refers to the interest rate adjusted for inflation, representing the true cost of borrowing or the true return on investment.

Risk Premium

The additional return expected by an investor for taking on a higher level of risk compared to a risk-free asset.