All of the following lead people to be credit constrained except a person's credit history. savings. collateral. banking regulations. b. The most important consequence of credit constraints on individuals is difficulty in obtaining gainful employment. an ability to retire at an earlier age. lower interest rates on bank loans. an inability to smooth consumption.

Explanation:

Being credit constrained means that one is unable to borrow because the lenders do not think the individual is capable of paying back.

A person's credit history, savings level and collateral are all very useful in determining if they have the ability to pay back debt. Banking regulations do not directly lead to a credit constraint.

Lower interests on bank loans is only given to more creditworthy entities whom the bank feels will be able to pay back. A credit constrained person is risky and will therefore draw a higher rate from banks to balance that risk.

answer; encouraging the development of innovations by firms attempting to break a monopoly; (creative destruction)

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