An extended period of little or no growth in GDP, wages, and prices is a period of stagnation.
When real economic growth is less than 2% annually it is considered stagnation. Stagnation is a prolonged period of little or no growth in an economy. This no growth economic period affects various sectors of the economy such as GDP, wages, prices etc.
Stagnation can occur as a temporary condition, such as a growth recession or temporary economic shock. Stagnation is a situation which occurs within an economy when total output is either flat, declining, or growing slowly.
Hence, stagnation in economy can occur due to a number of causes.
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Answer:
The loan is due on August 18th
Explanation:
Simple interest is defined as the amount that is paid on a loan over a period of time. The interest is paid along with the principal in the course of loan tenure.
The formular for simple interest bis given as
Interest= principal* Interest rate* time
We are to calculate the loan duration and it was disbursed on June 7.
120= 4,000* 0.15* time
Time = 120/(4,000*0.15)= 0.2 years
Time = 0.2* 365 days
Time= 73 days
Therefore the loan is due on August 18th
Answer:
The Truth in Lending Act (TILA)
Explanation:
TILA was passed in 1968 in an attempt to protect loan consumers from unfair practices carried out by lenders. TILA requires lenders to disclose the credit terms in a simple and understandable manner so that potential consumers can compare credit terms offered by different lenders. The information disclosed must include the loan's APR, principal, finance charges, payment schedule and monthly payments.
TILA applies to most types of consumer credit, including car loans, home mortgages, credit card, home equity loans, etc.
Answer:
E. A and C
Explanation:
Based on the information provided within the question it can be said that this is an example of both the context effect and assimilation effect. Which the context effect describes the effect that the environment affects a certain aspect while the assimilation effect refers to the judgments made based on the position of the stimuli.
