Foundations of Economics (8th Edition)
Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Chapter 23, Problem 9IAPA
To determine

To calculate:

The real interest rate in Brazil.

Nominal GDP:

The nominal GDP is adjusted to the inflation and real is not adjusted to the inflation percent. Inflation is the rise in prices of goods and services.

Money:

Money is something that is used in order to exchange for goods and services. Money is used as a medium of exchange in any country and the value it holds will differ from country to country.

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