How might consumer credit laws contribute to the empowerment of individuals?
A) Seller and lender abuses are reduced under consumer credit laws.
B) Consumers are able to borrow money regardless of their credit history.
C) Lenders can choose not to extend credit to individuals with a poor credit rating.
D) Consumer credit laws prevent individuals from borrowing money, keeping them out of debt.
Answer: A) Seller and lender abuses are reduced under consumer credit laws.
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Since Germany is a large open economy, the increase in German borrowing and investment in what was formerly East Germany in the early 1990s resulted in
A) a decline in the world real interest rate. B) a shift to the right in the German supply of loanable funds curve. C) an increase in the real interest rate in the United States. D) a shift to the left in the German demand for loanable funds curve.
It is commonly believed that the best ways to motivate an employee are (1) to improve the quality of the workplace and (2) to make the employee feel like he/she is part of the company. How would an economist analyze these statements?
What will be an ideal response?