The Term Microfinancing Refers to

question 85

Multiple Choice

The term microfinancing refers to

• A)lending small sums of money to the poor so that they can work their way out of poverty.
• B)welfare handouts for poor people in developing countries.
• C)welfare handouts for poor people in industrial countries.
• D)pyramid schemes.

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Definitions:

Price Level

Reflects the average of current prices across the entire spectrum of goods and services produced in the economy, serving as a measure of inflation.

Value of Money

The purchasing power of money, which can vary over time due to inflation or changes in the economy.

Hold Money

The act of retaining cash or money in accounts as savings or reserves, rather than investing or spending it.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price, holding all else constant.