The State of Illinois Enacts a Usury Statute

question 1

Multiple Choice

The state of Illinois enacts a usury statute. The purpose is to

• A) ​establish a maximum rate of interest that may be charged for loans.
• B) ​establish a minimum rate of interest that may be charged for loans.
• C) ​prevent the misuse of money advanced as loans.
• D) ​prevent the misuse of money paid back on loans.

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Definitions:

Government Imposed Taxes

Charges levied by the government on individuals, goods, services, or transactions to fund public expenditures.

Marginal Social Cost

The total cost to society of producing an additional unit of a product, including both the private cost and any external costs.

Pollution Emission

The release of pollutants into the environment, typically from industrial processes or vehicles.

Pollution Reduction

The process of decreasing the amount of pollutants that are released into the environment.