Why Wasn't Everyone Else Already Implementing Group Responsibility to Lend

question 15

Multiple Choice

Why wasn't everyone else already implementing group responsibility to lend to the poor in the example in the text?

• A) Governments of poor countries had regulations against group responsibility.
• B) The idea was genuinely new.
• C) It was not profitable.
• D) It was easy for groups to provide false social security numbers for members that did not exist.

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Definitions:

Government Grants

Financial awards given by the government to individuals, organizations, or companies to support activities beneficial to the public without expectation of repayment.

Economic Activities

Economic activities refer to actions that involve the production, distribution, and consumption of goods and services.

Subsidies

Financial support given by the government to businesses, organizations, or individuals, aimed at promoting economic and social policy objectives.

Stagnant Economy

A situation where an economy experiences minimal to no growth, often characterized by high unemployment and low consumer spending.