On an unsecured loan, your bank will highly likely charge an interest rate
A. below the prime rate.
B. below the discount rate.
C. above the prime rate.
D. below the federal funds rate.
Answer: C
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The graph of the short-run relationship between the unemployment rate and inflation is called a(n)
A) MP curve. B) LM curve. C) IS curve. D) Phillips curve.
____ occurs whenever a third party receives or bears costs arising from an economic transaction in which the individual (or group) is not a direct participant
a. Pecuniary benefits and costs b. Externalities c. Intangibles d. Monopoly costs and benefits e. none of the above
In the monopoly market structure, new firms
a. cannot profitably enter the industry, even in the long run b. may freely enter and leave the industry in both the short run and the long run c. may freely enter and leave the industry in the long run only d. may freely enter and leave the industry in the short run only e. have no incentive to enter the industry, even if economic profits are present
When product A is a substitute for product B, the cross-price elasticity of demand for products A and B will be _____
a. unity b. negative c. positive d. decreasing e. increasing