Which of the following best explains what happens when a currency is pegged to the U.S. dollar? A. The U.S. Treasury gets to det
ermine the exchange rate between U.S. dollars and the pegged currency. B. The pegged currency can be used interchangeably with U.S. dollars to purchase goods and services. C. The value of the pegged currency goes up and down depending on the exchange rate of the U.S. dollar. D. The exchange rate for the pegged currency is exactly the same as the exchange rate of the U.S. dollar. 2b2t
Banks are profit-making institutions. Their purpose is to make a profit for their owners or stockholders. They need to charge more interest on the money that they loan out than what they pay on savings accounts so that there is a profit for them.
A rent ceiling is a government regulation that makes it illegal to charge a rent higher than a specified level. Meaning that the landlord of a building cannot charge a rent amount higher than the maximum price set forth by the rent ceiling. Landlords that violate this law are usually fined by the government as a consequence.