A ceiling on interest rates is likely to lead to
A. an increase in lending activity.
B. more rapid capital formation by business.
C. increases in hiring of labor.
D. a shortage of loanable funds.
Answer: D
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The output at which average product is a maximum is the same output at which ________ is a minimum
A) average fixed cost B) average variable cost C) average total cost D) marginal cost
Which of the following statements is true regarding the opportunity cost of time?
a. Retired people are more likely to visit supermarkets than farmers' markets. b. Students are more likely to visit farmers' markets even during exams. c. Working professionals are more likely to frequent convenience stores. d. The opportunity cost of time for farmers and buyers participating in the farmers' market is usually very high.