Read thearticle and answer the following question:

http://www.economist.com/blogs/economist-explains/2015/02/economist-explains-15

According to the article, why might negative interest rates not have an expansionary effect on the economy?

Select one:

a.Because they may encourage a run on the banks and thus reduce the ability of the banks to lend

b.Because they can make it difficult for banks to attract funds

c.Because they can hurt banks profits

d.all of the above could apply