First bank offers personal loans at 7.7 percent compounded monthly. second bank offers similar loans at 7.4percent compounded daily. which one of the following statements is correct concerning these loans? assume a 365-day year. multiple choice the second bank loan has an effective rate of 8.01 percent. the first bank loan has an effective rate of 7.98 percent. the annual percentage rate for the second bank loans is 7.68 percent. borrowers should prefer the loans offered by first bank. both banks offer the same effective rate.

Label each of the following statements true, false, or uncertain. explain your choice carefully. a. workers benefit equally from the process of creative destruction. b. in the past two decades, the real wages of low-skill u.s. workers have declined relative to the real wages of high-skill workers. c. technological progress leads to a decrease in employment if, and only if, the increase in output is smaller than the increase in productivity. d. the apparent decrease in the natural rate of unemployment in the united states in the second-half of the 1990s can be explained by the fact that productivity growth was unexpectedly high during that period.