What is Islamic Banking?
What will be an ideal response?
Islamic law prohibits the charging of interest on loans. In Muslim countries, banks are not allowed to make traditional loans, but rather play their intermediary role by taking a predetermined percentage of the borrowing firm's profits until the loan is repaid. Therefore, in a sense, banks under Islamic Banking act as venture capitalists rather than traditional lenders.
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Economics is generally concerned with
A. the operation of banks and the stock market. B. business management. C. how resources are allocated among alternative goals. D. the right time to start a business.
The set of skills, knowledge, experience, and talent that determine the productivity of workers is called:
A. human capital. B. physical capital. C. worker per capita. D. capital per worker.
Which of the following is TRUE of the Federal Reserve System?
a) It is controlled by the executive branch of the federal government. b) Its decisions must be approved by a majority vote by Congress. c) It has the power to increase the money supply. d) It does not influence interest rates.
Refer to the scenario above. This game ________
A) has a unique Nash equilibrium B) has a unique dominant strategy equilibrium C) does not have a dominant strategy equilibrium D) does not have a Nash equilibrium