Examlex
What is virtue? Why did Americans believe virtue to be essential in their society after the Revolution? What efforts were made to promote virtue?
Interest Rate
The share of a loan subject to interest charges to the borrower, typically denoted as an annual percentage of the loan's outstanding sum.
Nominal Interest Rate
The stated interest rate on a loan or investment, not adjusted for inflation.
Rational Consumer
An assumption in economics that consumers aim to maximize their utility or satisfaction from consumption choices, given their budget constraints.
Cobb-Douglas Utility Function
A specific form of utility function used in economics to represent preferences, where utility is derived from a combination of goods, typically modeled with constants representing the elasticity of substitution between those goods.
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