If the Nominal Interest Rate Is 3% and If Prices

question 1

True/False

If the nominal interest rate is 3% and if prices fall by 2% per year, then the real rate of interest is approximately 5%.

---

Definitions:

De Facto

In practice or actuality, but not officially established by law.

Racial Segregation

The systemic separation of people into racial or ethnic groups in daily life, historically institutionalized in various societies.

Housing Choices

The range of residential options available to individuals and families, depending on factors like income, location, and personal preference.

Equal Rights Amendment

A proposed amendment to the U.S. Constitution aimed at guaranteeing equal legal rights for all American citizens regardless of sex.