The Principle That Holds That the Powers of Government Should

question 52

Multiple Choice

The principle that holds that the powers of government should be limited and embodied in a basic written law is referred to as

• A)liberty.
• B)the social contract.
• C)majority rule.
• D)constitutionalism.
• E)equality.

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Definitions:

Commitment Fee

A charge imposed by a lender on a borrower for not utilizing a credit line or for funds that have not been disbursed.

Revolving Credit

A flexible credit line that allows individuals or businesses to borrow, repay, and borrow again up to a certain limit, commonly seen in credit cards and lines of credit.

Interest Expense

It refers to the cost incurred by an organization or individual for borrowing funds, typically represented as a yearly interest rate applied to the loan's principal amount.

Prime Rate

The interest rate that banks charge their most credit-worthy customers, often used as a benchmark in lending rates.