You agree to lend $1,000 for one year at a nominal interest rate of 10%. You anticipate that inflation will be 4%over that year. If inflation is instead 3% over that year, which of the following is true?A) The real interest rate you earn on your money will be negative. B) The person who borrowed the $1,000 will be worse off as a result of the unanticipated decrease ininflation. C) The real interest rate you earn on your money is lower than you expected. D) The purchasing power of the money that will be repaid to you will be lower than you expected.

answer; intensive use of a sales force and is relatively costly;

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

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