Economists would predict that legal ceilings on the rate of interest (i.e., a price control) that may be charged to individuals (so called "usury laws"): a. help assure that loans are allocated according to need rather than ability to pay. b. make it easier for people with poor credit ratings to obtain loans. C. reduce the probability that firms will obtain scarce credit by bidding funds away from consumers. d. are unlikely to do any of the above. 7.

Economists would predict that legal ceilings on the rate of interest (i.e., a price control) that may be charged to individuals (so called "usury laws"): a. help assure that loans are allocated according to need rather than ability to pay. b. make it easier for people with poor credit ratings to obtain loans. C. reduce the probability that firms will obtain scarce credit by bidding funds away from consumers. d. are unlikely to do any of the above. 7.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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