Question

Why is credit an important part of the economy? A. It allows people and businesses to pay off expensive purchases over time. B. It helps workers find higher-paying jobs that take advantage of their skills. C. It encourages businesses to sell products both domestically and internationally D. It prevents banks from charging companies interest on long-term loans.

Name: why is credit an important part of the economy a it allows people and businesses to pay off expensive purchases over time b it helps workers find higher paying jobs that take advantage of th 67776
Uploaded: 2022-05-06T05:35:41-08:00
Duration: 1 min 33 s
Channel: Prabhat Tyagi
Description: why is credit an important part of the economy a it allows people and businesses to pay off expensive purchases over time b it helps workers find higher paying jobs that take advantage of th 67776

          Why is credit an important part of the economy?
A. It allows people and businesses to pay off expensive purchases
over time.
B. It helps workers find higher-paying jobs that take advantage of
their skills.
C. It encourages businesses to sell products both domestically and
internationally
D. It prevents banks from charging companies interest on long-term
loans.

Added by Michael V.

Principles of Economics

Gregory Mankiw 8th Edition

Instant Answer

Solved by Expert Prabhat Tyagi

05/06/2022

Step 1

Step 1: Credit allows people and businesses to pay off expensive purchases over time, which helps stimulate economic activity by enabling individuals to make purchases they otherwise couldn't afford upfront. Show more…

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Why is credit an important part of the economy? A. It allows people and businesses to pay off expensive purchases over time. B. It helps workers find higher-paying jobs that take advantage of their skills. C. It encourages businesses to sell products both domestically and internationally D. It prevents banks from charging companies interest on long-term loans.