After Reading the Fine Print in Your Credit Card Agreement,you

question 111

Essay

After reading the fine print in your credit card agreement,you find that the "low" interest rate is actually an 18% APR,or 1.5% per month.Now,to make you feel even worse,calculate the effective annual interest rate.

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Definitions:

Nontariff Barriers

All barriers other than protective tariffs that nations erect to impede international trade, including import quotas, licensing requirements, unreasonable product-quality standards, unnecessary bureaucratic detail in customs procedures, and so on.

Import Restrictions

Government-imposed controls or limitations on the quantity or value of goods that can be imported into a country, often to protect domestic industries.

Import Demand

The quantity of goods or services that domestic consumers or firms are willing to purchase from abroad at various prices.

Export Supply

The quantity of goods or services available from a country for sale to other countries, directly related to national production capacities and international demand.