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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What are some ways that someone looking for a loan might reassure a bank that is faced with imperfect information about whether the borrower will repay the loan?

To determine

The ways by which a person seeking for bank loan can reassure the bank against the imperfect information the bank has about such person are to be determined.

Explanation

When someone looking for loan than bank reassure that how a borrower will repay such loan, now the point is in case of imperfect information how bank will reassure for borrower.

In financial capital market, before bank makes a loan, it requires that borrower fill out a form about source of income, past borrowing details and credit limits, identification proofs, statements of other bank accounts...

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