Economics

Calculating Interest: Principal, Rate and Time are Known--I= p r t

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The level of interest rates in a free market economy are primarily determined by the rate of inflation, the demand for money, and the actions of the Federal Reserve. Lenders of money will generally demand what is known as a nominal interest rate which is equal to a real interest rate plus a premium to cover the inflation rate. The real, or inflation adjusted interest rate, is the percentage rate of return to a lender as measured by an increase in purchasing power.

Yale professor Irving Fisher's economic theory of interest rates laid the conceptual groundwork for establishing that the nominal interest rate equals the real interest rate plus the anticipated rate of inflation. Fisher's mathematical equations in his theory of interest rates are supported by empirical data. A comparison of comparable maturity U.S. Treasury securities, one of which has a fixed rate and the other an inflation adjusted rate, shows that the nominal interest rate always exceeds the real interest rate.

A consumer, whether a borrower or a saver, will generally be quoted a nominal interest rate by a bank on a loan or a savings account.

Expressed powers are powers written down for Congress in the Constitution.

The federal program created in the 1960's which provides medical care to the poor and indigent who qualify is called Medicaid. Medicaid is a social program that was created in 1965,

Each state is responsible for and runs its own unemployment insurance program.

Equal Employment Opportunity Commission

Fiscal policy is centered on aggregate demand.

Programs continued to increase,even though the economy was stronger

issue bonds which are sold to the public

It can lead to negative effects on the economic activity and can even cause a recession.

Keep it stable

the total demand for final goods and services in the economy

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Peak a+

recession

Low income or having dependent children