Table 24-12

question 476

Multiple Choice

Table 24-12. Will's expenditures on food for three consecutive years, along with other values, are presented in the table below.
-Refer to Table 24-12. If the nominal interest rate was 8 percent in 2010, then

• A)the real interest rate in 2010 was 3 percent.
• B)the real interest rate in 2010 was 4 percent.
• C)Will's 2009 food expenditures in 2010 dollars amount to $5,800.
• D)Will's 2009 food expenditures in 2011 dollars amount to $6,200.

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Definitions:

Ethanol

A volatile, flammable, colorless liquid alcohol, used as a solvent and in the manufacture of organic chemicals and biofuels.

Methanol

A simple alcohol with the formula CH₃OH, used as a solvent, antifreeze, fuel, and as feedstock for chemical synthesis.

Balanced Equation

A chemical equation in which the number of atoms for each element is the same on both the reactant and product sides.

Propanol

An alcohol with the chemical formula C3H8O, used as a solvent and antiseptic.