When the price level is rising at ______ and the real interest rate is 1 percent a

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When the price level is rising at ______ and the real interest rate is 1 percent a year, the nominal interest rate is 3 percent a year.

A. 4 percent a year

B. 3 percent a year

C. 2 percent a year

D. 1 percent a year

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Foundations of Macroeconomics

ISBN: 978-0134492001

8th edition

Authors: Robin Bade, Michael Parkin

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