Which of the following provides the best explanation for how consumer credit can exacerbate inequality?(1 point)
Responses
People with lower wealth and incomes may have less access to credit and pay higher interest rates when they are approved.
People with lower wealth and incomes may have less access to credit and pay higher interest rates when they are approved.
People with lower wealth and incomes are offered credit with less collateral.
People with lower wealth and incomes are offered credit with less collateral.
People with lower wealth and incomes must sacrifice more capacity and capital in order to acquire credit.
People with lower wealth and incomes must sacrifice more capacity and capital in order to acquire credit.
People with lower wealth and incomes purchase less, so since credit allows all people to make purchases sooner, credit provides less benefit to these people.