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1- there is two a and b in each of them you need to respond 2- 3 sentences in ea

by | Sep 30, 2021 | Economics | 0 comments

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1- there is two a and b in each of them you need to respond 2- 3 sentences in each A:My perceptions of carrying credit card debt, student loans, and other borrowing has not changed because of today’s strong economy. I have not made any huge purchases that has caused me to be in debt, and I usually only buy relatively expensive stuff with my money that I know I can pay for at that moment or within a short amount of time. Even with the small purchases I do make, I am very aware of my money and what I do with it. My only “debt” is due to student loans, which I am not necessarily worried about paying right now as you don’t have to start paying them off until six months after ending school. I am sure once I am older and start making big payments that cause me to take out more loans and borrow money, such as buying a house or a car, I will have a different perception. B:If the economy is in a bad phase, inflation can occur. That means the value of money goes down. If you had a way to repay your debts at that time, that was a good thing because you had to pay back less due to the lower value of the money.Today the economy is stronger, which means there is more supply and demand. If there are more offers, people will buy more and they can become indebted. There has been no inflation in recent years, which makes it more difficult to repay your loan. Due to Corona there was a slight inflation, which is positive for people with credit, as the debt amount decreases.My perception is that having a strong economy makes it easier to get into debt. Furthermore, it is difficult to pay off your debt when there is no inflation.

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