The _________________________ hold claims to the interest on borrowed funds that are secured by individuals, businesses and property.
Fill in the blank(s) with the appropriate word(s).
Answer: debt participants (the lenders)
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An itemized account of a nation's foreign economic transactions is its:
a. gross domestic product. b. goods exports. c. goods imports. d. balance of payments. e. foreign exchange reserves.
Which of the following is true regarding value and exchange?
a. Middlemen fail to create value since they do not expand the supply of physical goods. b. A good or service has a given value regardless of who uses it or how it is used. c. If it were not for middlemen, transaction costs would be zero. d. Voluntary exchange creates value by channeling goods into the hands of people who value them most.
One of the underlying assumptions made when drawing the short-run aggregate supply curve is that: a. average wages and resource costs tend to be sticky in the short run
b. there are many buyers and sellers who are price takers. c. sellers offer differentiated products in the short run. d. capital is perfectly mobile between different industrial sectors in the short run.
If the federal funds rate is at its target 3.5 percent, inflation is 1.5 percent, and target inflation is 2.5 percent. If the Taylor rule is accurate, the output was:
A. 1.5 percent above potential. B. 1.5 percent below potential. C. 1 percent above potential. D. 1 percent below potential.