A Short-Term Loan Where Both Principal and Interest Must Be

question 20

Multiple Choice

A short-term loan where both principal and interest must be repaid in a lump sum at maturity is known as a/an

• A) Unsecured loan
• B) Secured loan
• C) Line of credit
• D) Demand note

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Definitions:

1932

A significant year marked by the election of Franklin D. Roosevelt as President of the United States and the depths of the Great Depression.

New Dealers

Supporters or architects of the New Deal, a series of reforms and programs initiated by President Franklin D. Roosevelt to combat the Great Depression.

Gold Standard

A monetary system in which the value of a country's currency is directly linked to a specified amount of gold, ensuring economic stability and trust.

Economic Recovery

The process of improvement in the economy following a period of recession or economic downturn, marked by increases in employment, consumer confidence, and GDP.