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Consider the following about credit creation in the economy In a formal economy, any two people or entities can agree to create credit only when there is tangible collateral on the part of the borrower. In a formal economy, the total liability of a borrower always exceeds the amount credited to him. Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following about credit creation in the economy In a formal economy, any two people or entities can agree to create credit only when there is tangible collateral on the part of the borrower. In a formal economy, the total liability of a borrower always exceeds the amount credited to him. Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following about credit creation in the economy In a formal economy, any two people or entities can agree to create credit only when there is tangible collateral on the part of the borrower. In a formal economy, the total liability of a borrower always exceeds the amount credited to him. Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer?.

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