Economists Atif Mian and Amir Sufi Believe That the Sharp

question 39

Multiple Choice

Economists Atif Mian and Amir Sufi believe that the sharp decline in consumption spending in 2008 occurred because falling housing prices resulted in ________ and lower consumer borrowing to finance spending.

• A) lower housing wealth
• B) higher interest rates
• C) lower planned investment
• D) unplanned decreases in inventories

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