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In​ August, 1979, the annual rate of inflation in the U.S. was nearly​ 12%, and the U.S.​ short-term nominal interest rate was nearly​ 10%. Over the next 35​ years, both the rate of inflation and​ short-term nominal interest rate tended to fall. By August​ 2014, the rate of inflation was about​ 2% and the​ short-term nominal interest rate was close to​ 0%. How has the real​ short-term interest rate changed from 1979 to​ 2014?

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