Multiple Choice
Over the past year, you earned a nominal rate of interest of 3.6% on your money. The inflation rate was 3.1% 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%.
Correct Answer:
Verified
Correct Answer:
Verified
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