Over the Past Year You Earned a Nominal Rate of Interest

question 61

Multiple Choice

Over the past year you earned a nominal rate of interest of 3.6 percent on your money.The inflation rate was 3.1 percent over the same period.The exact actual growth rate of your purchasing power was

• A)3.6%.
• B)3.1%.
• C)0.48%.
• D)6.7%.
• E)none of the above

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Definitions:

Homo Floresiensis

A species of small hominin that lived on the island of Flores, Indonesia, until about 50,000 years ago, known for its relatively small stature and brain size.

Homo Habilis

An extinct species of early human that lived about 2.4 to 1.4 million years ago, known for using stone tools.

Human Evolution

The lengthy process of change by which people originated from apelike ancestors, characterized by developments such as bipedalism, larger brains, and other traits.

Denisovans

An extinct species or subspecies of archaic humans in the genus Homo, known primarily from their DNA extracted from fossil remains found in Siberia.