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Q. A local finance company quotes a 17 percent interest rate on one-year loans. So, if you borrow $17,000, the interest for the year will be $2,890. Because you must repay a total of $19,890 in one year, the finance company requires you to pay $19,890/12, or $1,657.5, per month over the next 12 months.
Q. Which of the following will most likely occur under a system of clearly defined and enforced private property rights?
an increase in demand for unskilled labor
a decrease in the supply of unskilled labor
a shortage of unskilled labor
a surplus of unskilled labor
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