The phenomenon that some consumers pay a higher interest rate when they borrow than the interest rate they receive when they lend is best described as an example of

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This phenomenon can be attributed to credit market imperfections, such as information asymmetry and transaction costs, which can result in lenders charging higher interest rates to borrowers perceived as higher risk. This can create an unequal distribution of interest rates within the market, with some borrowers paying more than the market rate and lenders receiving less than the market rate. This is also known as the credit spread.

The Phenomenon That Some Consumers Pay a Higher Interest Rate