Usury laws result in banks making less credit available to lower-income households because
A) higher-income households will pay a higher interest rate than lower-income households.
B) loans made to higher-income households have no risk.
C) loans to lower-income households are riskier than loans to higher-income households.
D) the regulated interest rate does not adequately compensate the bank for the risk of the loan to a lower-income household.
D
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Another benefit from entering a currency union that is not optimal would include:
A) the idea that economies interconnected in a currency union with increased trade also develop a symmetry of demand shocks. B) the reduction of interdependence and an increase in self-sufficiency. C) the cessation of disagreement over trade protection. D) the possibility of increasing the currency area.
Which of the following contributed to the increase in steamboat productivity?
(a) Improvements in ship design (b) Better docking stations (c) Increased competition by railroads (d) All of the above