A survey of 500 customers at independent furniture shops finds that consumer confidence has risen while interest rates have also risen.
| Customer response | Share of customers |
|---|---|
| More likely to buy a large item because confidence has risen | 54% |
| More likely to delay a purchase because borrowing has become more expensive | 21% |
| No change to their plans | 25% |
Explain what the survey suggests about the likely effect of these changes on consumer spending at independent furniture shops.
116 exam-style questions on OCR GCSE Economics 3.6 Monetary policy, covering 3.6.1 What is monetary policy, 3.6.2 Monetary policy and macro objectives, and 3.6.3 Effects of monetary policy. Each one has a worked solution and a mark scheme showing where the marks go.