Credit controls were removed in July 1980 because they had
A)proved to have little impact on economic activity.
B)resulted in sharp increases in interest rates.
C)raised the inflation rate.
D)produced a recession.

Question

Quizplus · Accepted Answer

Credit controls were removed in July 1980 because they had led to a recession by significantly reducing consumer spending and borrowing, which negatively impacted economic activity.

Credit Controls Were Removed in July 1980 Because They Had