At a Given Price Level,a Decrease in Consumer Credit Will

question 73

Multiple Choice

At a given price level,a decrease in consumer credit will shift the aggregate demand curve:

• A)rightward.
• B)leftward.
• C)both.
• D)none of the above.

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Definitions:

Repossessed Vehicle

A vehicle taken back by a lender or seller from the buyer due to failure to make agreed payments.

Deficiency

The difference between the amount owed on a loan and the proceeds from the sale of the asset securing the loan, if the sale amount does not cover the loan balance.

Breach Of The Peace

An act that disturbs public tranquility or order.

Repossession

The process by which a creditor takes back property from the borrower due to failure to meet the repayment terms of the loan.