Which statement is true?
A. Usury laws hurt some borrowers, but don't interfere with the price mechanism.
B. Usury laws hurt some borrowers and interfere with the price mechanism.
C. Usury laws interfere with the price mechanism, but don't hurt borrowers.
D. Usury laws neither interfere with the price mechanism, nor hurt borrowers.
B. Usury laws hurt some borrowers and interfere with the price mechanism.
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Which of the following accurately describes growth rates in the United States from 1900 to the present?
A) Growth rates have risen continuously from 1900 to the present. B) Growth rates rose until the 1970s, slowed until the 1990s, rose again until 2005, and then slowed again to the present. C) Growth rates rose until the 1970s and then fell until the present. D) Growth rates have fallen continuously from 1900 to the present.
Suppose that the market for steel is shown in the above figure. What specific tax would result in a competitive market producing the socially optimal quantity of steel?
What will be an ideal response?