Question

Financial institutions are reporting that the rate of spending is declining based on customer data. Which of the following is associated with a decline in spending?
Multiple Choice
economic expansion
economic contraction
employment boom
inflation
O job expansion

Answer 1

Financial institutions are reporting that the rate of spending is declining based on customer data it is associated with economic contraction.

What is economic contraction?

Economics contraction occurs when the economy for a country is going through a face of reduction or decrease.

The economy is affected and every aspect of business, income is also reducing.

Therefore, Financial institutions are reporting that the rate of spending is declining based on customer data it is associated with economic contraction.

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