"Banks make a profit by paying depositors a high rate to attract funds and making loans at a low rate to encourage borrowing." Is the previous statement correct or not?
What will be an ideal response?
The statement is incorrect. Banks make a profit if the interest rate they collect on the loans they make exceeds the interest rate they must pay on the deposits they attract.
Economics
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If productivity growth accelerates, but workers do not realize it ________
A) they will expect large wage hikes B) they will not expect large wage hikes C) the natural rate of unemployment will rise D) the number of discouraged workers will rise
Economics
The debt held by the people themselves neither adds to nor subtracts from national production or consumption. That neutrality, however, doesn't rule out complications
Indicate whether the statement is true or false
Economics