To Establish Creditworthiness You Probably Should First

question 47

Multiple Choice

To establish creditworthiness you probably should first

• A)open savings and checking accounts.
• B)use credit extensively.
• C)arrange a small loan.
• D)pay cash for all purchases.
• E)arrange a large loan from close relatives.

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Definitions:

GDP Per Capita

The gross domestic product divided by the population, measuring the average economic output per person and often used as an indicator of living standards.

Population Increases

A rise in the number of individuals within a specific area or country, which can impact resources, employment, and economic growth.

Labor Force

The aggregate count of individuals who are either working or actively looking for work within a specified economy.

Labor Productivity

A measure of economic performance that calculates the amount of goods and services produced (output) per unit of labor input, reflecting the efficiency of labor use.