Nominal Interest Rate Is

question 57

Multiple Choice

Nominal interest rate is:

• A)the interest rate on money in terms of money.
• B)the interest corrected for inflation.
• C)not the interest rate.
• D)return on investments in terms of real goods.
• E)none of the above.

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Definitions:

Marginal Products

The additional output produced as a result of utilizing one more unit of a particular input.

Marginal Product

It is the increase in output that results from a one-unit increase in the input, keeping all other inputs constant.

Average Product

The output per unit of a particular input, such as labor or capital, calculated by dividing total product by the quantity of input.

Average Product

The output produced per unit of input used, typically calculated by dividing total product by the quantity of input.