Answered

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Which best describes the economic impact of defaulting on bank loans?

The economy suffers because banks have less money to loan to others.
The economy suffers because people have less money to spend.
The economy suffers because businesses are scared to take out loans.
The economy suffers because people are scared to take out loans.

Sagot :

jomariflores400l

Answer:

The answer is A.

Explanation:

The economy suffers because banks have less money to loan to others.

ayfat23

The economic impact of defaulting on bank loans is that the economy suffers because banks have less money to loan to others.

What is effect of defaulting on bank loans?

If a bank gives loan to people and they refuse to pay back, there won't be enough money to lend other customers.

Therefore, option A is correct because, economy suffers because banks have less money to loan to others.

Learn more about bank loans at;

https://brainly.com/question/25664180

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