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

Question

History

Eden Gibson

25 February, 13:37

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

+1

Answers (1)

Know the Answer?

Bernard Lang · Answer 1

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.

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

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