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At any given interest rate, a significant number of middle-class consumers decide to use their credit cards to fund additional purchases. Assuming there are no
At any given interest rate, a significant number of middle-class consumers decide to use their credit cards to fund additional purchases. Assuming there are no external controls on interest rates, what will be the likely results on the quantity of money saved, on interest rates, and on additional business investment? Assume no change in government borrowing.
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