You May Be Able to Borrow at a Lower Interest

question 120

True/False

You may be able to borrow at a lower interest rate if you accept a shorter-term loan.

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Definitions:

Social Ethics

The branch of ethics that concerns itself with the principles of morality governing individuals as members of a community or society.

Market Outcomes

The results of interactions between buyers and sellers in a market, determining the allocation of resources and the distribution of goods and services.

Pre-Tax Income

The amount of income earned by an individual or business before any taxes have been deducted.

Milton Friedman

An American economist and Nobel Prize winner known for his advocacy of free market capitalism and a key figure in the Chicago School of Economics.