Asked by DeAndra Kelly on May 16, 2024
Verified
Usury laws are ineffective unless the interest rate ceiling is set ______ the equilibrium rate of interest.
Interest Rate
The cost of borrowing money or the reward for saving, typically expressed as a percentage of the principal amount annually.
Equilibrium Rate
The price or level at which supply and demand in a particular market are equal.
- Clarify how interest rates influence economic activities, with an emphasis on the purpose of usury statutes.
Verified Answer
LG
Learning Objectives
- Clarify how interest rates influence economic activities, with an emphasis on the purpose of usury statutes.