Interest rates for all types of credit are
A. set by the state government
B. set by the federal government
C. set by commerical banks
D. regulated by state and federal laws
I think the answer is c
I agree.
The correct answer is D. Interest rates for all types of credit are regulated by state and federal laws.
To arrive at this answer, we can eliminate options A, B, and C based on the information we know about interest rates. State governments do not typically set interest rates for credit. While the federal government may indirectly influence interest rates through policies such as monetary policy, they do not directly set interest rates for all types of credit. Commercial banks may have some flexibility in setting interest rates, but they are still subject to state and federal regulations.
Therefore, the answer is D - interest rates for all types of credit are regulated by state and federal laws.