The greater the risk of nonrepayment of a loan, other things being equal
A) the longer is the repayment term.
B) the lower is the charged loan fees.
C) the higher is the rate of interest.
D) the smaller is the amount of collateral that is used.
C
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The average work week in the United States has declined to fewer than 40 hours even though wage rates have been increasing. The best explanation of this phenomenon is that
a. the labor supply curve shifted to the right b. the labor demand curve shifted to the right c. the income effect of rising wages outweighed the substitution effect d. the income effect of rising wages could not outweigh the substitution effect e. none of the above
The actions of speculators in a market tend to shift the ____ when the price of the good is low and thereby ____ the price
a. demand curve out; raise b. demand curve in; lower c. supply curve out; lower d. supply curve in; raise