Economics · Money and Credit
Consider the following statements: 1. Formal credit sources are regulated by government authorities. 2. Expansion of institutional credit reduces dependence on money lenders. 3. Informal lenders generally charge lower rates of interest due to competition among themselves. How many of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Only one
- 2Only two✓
- 3All three
- 4None
Correct answer
Only two
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