Asked by Ashley Dias-Stiefel on Apr 24, 2024
Verified
During the Great Recession,the prime rate quoted by most banks has fallen to ________%.
A) 5.5.
B) 4.25.
C) 3.25.
D) 1.25.
Prime Rate
The interest rate that commercial banks charge their most credit-worthy customers, often used as a reference for setting various interest rates.
Great Recession
A severe global economic downturn that occurred from late 2007 through mid-2009, marked by significant declines in housing prices and increased unemployment rates.
- Understand the impact of Federal Reserve actions on inflation and economic downturns.
Verified Answer
PN
Princess NessaMay 02, 2024
Final Answer :
C
Explanation :
During the Great Recession, the prime rate quoted by most banks fell to 3.25%.
Learning Objectives
- Understand the impact of Federal Reserve actions on inflation and economic downturns.
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