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Q.

Choose the given statement that is true/false.

Being poor affects the ability to borrow.

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a

True

b

False

answer is A.

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Detailed Solution

The above statement is true.
It has an impact on borrowing capacity because a large number of people are poor in our nation. First, the amount of collateral one has determines how much one can borrow and how much the banks can rely on them. Poor people with no assets as security have very little to no borrowing capacity. The concentration of power in the lending industry impacts a nation's ability to borrow money. Because fewer people invest their money or keep it in banks, poverty impacts a nation's ability to borrow money and lend it to other countries.

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Choose the given statement that is true/false.Being poor affects the ability to borrow.