The management of money and interest rates is called monetary policy and is conducted by a nation's central bank.
Interest is the amount paid by the borrower or deposit-taking financial institution to the lender or depositor in excess of the repayment of the principal at a specified rate. It is different from a fee that a borrower can pay to a lender or a third party.
Interest is the price you pay to borrow money or the cost you charge to borrow money. Interest is usually given as an annual percentage of the loan amount. This percentage is called the interest rate on the loan. For example, if you deposit money in a savings account, your bank will pay you interest.
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The answer of the above question is
Answer: demand decreases and supply stays the same
Explanation:
The equilibrium price refers to the price whereby the quantity of goods that's demanded and the quantity of goods that's supplied is equal.
On the other hand, the equilibrium quantity is gotten when the quantity of goods demanded and supplied are equal. This is gotten when the demand curve and the supply curve intersects.
It should be noted that there will be a lower equilibrium price and quantity if
In a situation whereby the demand increases and the supply remains the same, the equilibrium quantity and the equilibrium price will increase and vice versa.
