Many people have larger amounts of debt in America than before, and people in the market...
Many people have larger amounts of debt in America than before, and people in the market have become hesitant to take loans out for new cars. All other things being equal, what would car dealership do with their financing in this new market environment?
| They would increase the supply of car loans and increase the equilibrium price (interest rate) to remain competitive. |
| They would decrease the supply of car loans and increase the equilibrium price (interest rate) to attract more car buyers. |
| Dealership financing would decrease the supply of car loans and decrease the equilibrium price (interest rate) to make their car loans more attractive for people. |
Homework Answers
"C"
It will shift the demand for the loans to the left and that will decrease the interest rate and quantity. at a lower interest rate people will demand more car loans. the answer is "C".
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