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The lowest level of social play, according to Parten, is _________ play.
Real Interest Rate
The interest rate adjusted for inflation, representing the real cost of borrowing or the real yield to lenders and investors.
Nominal Interest Rate
The interest rate before adjustments for inflation, as opposed to the real interest rate which is adjusted for inflation.
Equilibrium Interest Rate
The equilibrium interest rate is the rate at which the demand for funds equals the supply of funds in the financial markets, balancing savings and borrowing.
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