MCC ECON 201 Economics I (Macro) - Chapter 4

3 flashcards · Economics · by luckydog789 (harrison holbrook)

1. Interest rate

   The "price" of borrowing in the financial market; a rate of return on an investment

2. Minimum wage

   A price floor that makes it illegal for an employer to pay employees less than a certain hourly rate

3. Usury laws

   Laws that impose an upper limit on the interest rate that lenders can charge