Usury laws that set maximum interest rates
a. are designed to protect the consumer.
b. interfere with the market allocation process.
c. have an effect only if the market rate is higher than the legal maximum.
d. All of the above are correct.
d
You might also like to view...
According to the text, the AT&T corporation was deregulated primarily by
a. requiring that competing companies have access to AT&T's facilities b. declaring AT&T the legitimate monopoly of telephone service in the United States c. creating a special Telephone Advisory Commission d. ending all government regulations regarding the domestic telephone industry e. requiring AT&T to share patents with competitors
If the wage rate is fixed at a certain level, then MLC is equal to that wage rate
Indicate whether the statement is true or false
A landscaper purchases a lawnmower, a rake, a truckload of gravel, and a chainsaw. Which of these four goods would most likely be considered as a commodity?
(A) A rake (B) A truckload of gravel (C) A chainsaw (D) A lawnmower
The ___________ curve facing a perfectly competitive firm is perfectly elastic.
A. average total cost B. marginal cost C. supply D. demand