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Nikitich [7]
3 years ago
6

What effects did the great depression have on the credit industry

Business
2 answers:
NikAS [45]3 years ago
8 0
It expanded the credit industry because all americans credit was effected by the great depression

lys-0071 [83]3 years ago
8 0
The Great Depression was caused by several things, but compound interest and other things that the credit industry finagled to get the most money out of their consumers was a definite cause. After the Great Depression, credit cards had much more strict regulations, much more.

<span>"Post War Era" I'm assuming meaning post-WWII, if so following WWII consumer borrowing had much stricter regulations in correlation with credit cards, as people could borrow or purchase things they couldn't afford and pay it off with a credit card.</span>
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The budget constrain is how much of each good can Joe's buy and it's given by:

Income = P_f * Q_f +P_s * Q_s  

P_f = Price_of_Food

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In case a):

300 = 5*Q_f(a) + 100*Q_s

in case b):

300 = 10*Q_f(b) + 100*Q_s

To draw each line, you can make a graphic in which the x axis is Q_s and y axis is Q_f

set Q_f = 0 and solve for Q_s which gives => Q_s = 3 so, in the x axis the line will start in Q_s = 3

the same, and solve for Q_f and it'll give =>

Q_f(a) = 60

Q_f(b) = 30

So, from the start in x axis in Q_s = 3 you draw the line (a) to the y axis Q_f(a) = 60 and you draw the line (b) to the y axis Q_f(b) = 30

To get the oportunity cost you have to divide the cost of what is given up (food) by what is gained (shelter).

Oportunity_Cost_Food(a) = 5/100 = 0.05

Oportunity_Cost_Food(b) = 10/100 = 0.10

As you can see, the oportunity cost of food increase

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