Laws that set maximum legal interest rates are called _____.
Fill in the blank(s) with the appropriate word(s).
usury
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Why would economies of scale be a barrier to entry?
What will be an ideal response?
Consider an economy made up of 100 people, 60 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The number of unemployed persons is _____
a. 10 b. 15 c. 40 d. 30 e. 90
"Last month unemployment fell to 4 percent, its lowest level in years. The economy is growing rapidly, but consumer prices have risen at an annual rate of 10 percent during the last six months." Which of the following policies would be most appropriate under these circumstances?
a. An increase in both government spending and taxes. b. An increase in taxes. c. A reduction in taxes. d. An increase in government spending.
Suppose that the economy is currently at full employment. All other things being equal, if central bank implements contractionary policy, then the appropriate fiscal policy is to
a. increase taxes. b. reduce government spending. c. balance the budget. d. increase a budget deficit.