The interest rate compensates
a. bankers for their time spent on paperwork
b. borrowers for their increased consumption today
c. savers for consumption forgone today
d. consumers for more consumption today
e. the Fed for its efforts to control the money supply
C
Economics
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What is the future value of $750 one year from today if the interest rate is 2.5 percent?
a. $766.50 b. $768.75 c. $770.23 d. None of the above are correct to the nearest cent.
Economics
If you are a sole proprietor of a firm, the value of the wage you could have earned elsewhere is
a. an explicit cost. b. an accounting cost. c. an implicit cost. d. not a cost.
Economics