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5 September, 18:38

Which of the following was an effect of the growth of the banking and finance industries?

0 It became harder for corporations to raise money to expand their businesses.

0 It created more middle-class jobs.

0 Fewer corporations were formed.

Select all that apply

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Answers (1)
  1. 5 September, 19:03
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    It created more middle-class jobs.

    Explanation:

    Banking and finance industries such as Banks promote economic growth by offering credit to individuals and corporations who are good borrowers. Banks are known to offer loan to people at a given interest rate.

    This makes it easier for corporations to raise money to expand their businesses. It also created more middle-class jobs due to the banks needing labour to run the company and also supports more formation of corporations due to access to capital by people from the banks.
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