Bankruptcy risk plays a role in the propagation of recessions by: a.
Bankruptcy risk plays a role in the propagation of recessions by:
a. causing a backlog in the caseloads of bankruptcy courts.
b. causing firms to increase capital expenditures as the economy begins to slow.
c. forcing firms to pay down debt.
d. straining the liquidity positions of both individuals and firms, both of which try to avoid bankruptcy by maintaining liquidity.
ANSWER
D
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