The following figure plots real interest rate against quantity of credit.
-Refer to the figure above.All else being equal,an increase in the interest rate will lead to ________.
Definitions:
Prevented Industrialization
The hindrance or delay of the industrial development process in a country or region, often due to external or internal factors.
Colonization
The act of establishing control over a foreign land and its people by a country or group, often leading to exploitation and cultural assimilation.
Abundant Natural Resources
The availability of a large quantity of natural materials that can be utilized for economic gain, such as minerals, forests, and water.
Long Hours
Working time that extends beyond the typical or standard working hours, often associated with high demands and stress.
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