Question

In 2007 the U.S. economy went into a deep recession lasting two years. Many households held on to their cars longer rather than trade them in for a new​ model, causing many dealerships to miss their sales quotas. The appropriate response in this situation would be​ to_____________

Answer 1

The appropriated responses would have been:

1. to adjust the dealerships' sales quotas until the economy bounced back
2. give customers longer auto loans and longer lease terms, and lower interest rates
3. eventually the most reasonable thing would be to adjust the price of cars to the decreasing demand, therefore lowering the prices