The interest rates charged on most credit cards is:

Name: The interest rates charged on most credit cards is:
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The high interest rates on credit cards can be attributed to adverse selection, as lenders have limited information about the borrower's creditworthiness and risk of default. This creates a problem of moral hazard, where borrowers with high risk profiles are more likely to apply for and use credit cards, leading to higher interest rates to cover the potential losses.

The Interest Rates Charged on Most Credit Cards Is