Which of the Following Is Correct Regarding Credit Cards

question 162

Multiple Choice

Which of the following is correct regarding credit cards?

• A) They are a store of value.
• B) They are not a money substitute.
• C) They are a permanent medium of exchange.
• D) They are becoming more important but are still not a major factor in the purchase of consumer goods.
• E) They are often referred to as "plastic money."

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Definitions:

Fundamental Attribution Error

The tendency to overestimate the effect of personality or disposition and underestimate the influence of situational factors when explaining others' behaviors.

False Consensus Effect

The tendency to overestimate the extent to which others share our beliefs, attitudes, and behaviors.

Younger People

Refers to individuals in the early stages of their life cycle, typically encompassing children, adolescents, and young adults.

Self-Handicapping

A strategy where people avoid effort in the hopes of keeping potential failure from hurting self-esteem.