When the prime rate is high:

Name: When the prime rate is high:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When the prime rate is high, it becomes more expensive for businesses and consumers to borrow money, which can lead to a decrease in economic activity and a slowdown in the economy. This is because higher interest rates can discourage businesses from investing in equipment or expanding their operations, and can also make it harder for consumers to afford big purchases like homes or cars.

When the Prime Rate Is High