A minimum wage law is an example of a price floor
Indicate whether the statement is true or false
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Economics
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Which of the following is NOT true of a fixed payment loan?
A) The borrower is required to make regular periodic payments to the lender. B) The payments made by the borrower include both interest and principal. C) The borrower is left with a substantial unpaid principal at the maturity of the loan. D) A home mortgage is an example of fixed payment loan.
Economics
In the market for both renewable and nonrenewable resources, the timing of the use of resources depends on:
a. the alternatives uses to which the resource is put. b. the market rate of interest. c. the availability of substitutes. d. the elasticity of demand for resources. e. government regulations.
Economics