If the Bank Agrees to Make a Loan at a 7

question 144

Multiple Choice

If the bank agrees to make a loan at a 7 percent interest rate and the inflation rate is 3 percent, then 4 percent is the ________ rate.

• A)nominal interest
• B)real interest
• C)hyperinflation
• D)disinflation

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Definitions:

Martin Luther King Jr.

A prominent leader in the American civil rights movement, known for his nonviolent protests against racial segregation and his "I Have a Dream" speech.

Assassinated

The act of murdering a prominent figure, often for political reasons, by a surprise attack.

Garbage Workers' Strike

A significant labor strike, often referring to the 1968 Memphis Sanitation Workers' Strike, where African American workers protested for better wages and working conditions.

Open Housing Act

Part of the Civil Rights Act of 1968 in the United States, which prohibited discrimination concerning the sale, rental, and financing of housing based on race, religion, national origin, and sex.