Apart from an Interest Charge on Funds Advanced to a Borrower,a

question 58

True/False

Apart from an interest charge on funds advanced to a borrower,a bank will charge a service fee for considering the loan application and loan preparation.

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Definitions:

Production Possibilities Frontier

A curve depicting the maximum viable combination of two products that can be produced in an economy, assuming all resources are fully and efficiently utilized.

Economize

To reduce expenses or to use resources carefully and efficiently to reduce waste and save money.

Full Production

The level of production where a company uses all its resources efficiently.

Unemployment Rate

The part of the labor force that is without employment but is actively interested in finding a job.