In 2008, the credit crisis led to a weakened U.S. economy and interest rates started to decline
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In 2008, the credit crisis led to a weakened U.S. economy and interest rates started to decline to very low level. In addition, the Federal Reserve took actions to help interest rates remain low, hoping to stimulate the economy. Despite the low rates and access to loanable funds, many businesses refused to borrow and expand.
Explain why (one reason is enough) businesses weren't willing to borrow during the credit crisis.
Related Book For
Macroeconomics Principles Applications And Tools
ISBN: 9780134089034
7th Edition
Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez
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