High interest rates can have serious effects on the economy because businesses are less willing to take on debt to expand their production.

Name: High interest rates can have serious effects on the economy because businesses are less willing to take on debt to expand their production.
Brand: Quizplus
Rating: 4.9 (49 reviews)

Question

Quizplus · Accepted Answer

High interest rates mean that it is more costly for businesses to borrow money, which can make them less likely to take on debt to expand their operations. This can slow down economic growth and reduce job creation.

High Interest Rates Can Have Serious Effects on the Economy