Which is the most accurate statement?
A. Fringe and sub-prime lending should be outlawed.
B. Poor people cannot get loans in the United States.
C. Payday lenders like the Military Financial Network make low interest loans to our military personnel.
D. When poor people get personal loans, they usually pay much higher interest rates than the average American.
D. When poor people get personal loans, they usually pay much higher interest rates than the average American.
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A normal profit for a self-employed entrepreneur is I. an opportunity cost. II. part of the implicit rental rate of the funds invested in the business
A) only I B) only II C) both I and II D) neither I nor II
The Slutsky equation shows that, holding the total effect constant, the income effect will be larger for goods that
A) have a smaller substitution effect. B) make up a larger percentage of a household's budget. C) have perfectly inelastic demand curves. D) All of the above.