In the 1970s, Toyota was able to increase its American sales despite interest rates on auto loans
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In the 1970s, Toyota was able to increase its American sales despite interest rates on auto loans surging as high as 17.5%. In contrast, after 2007, auto loan rates fell to their lowest levels in history; car sales also declined. Explain why. (Hint: Examine the connection between inflation and interest rates on loans.)
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