A Good Rule of Thumb Is to Limit Consumer Credit

question 19

Multiple Choice

A good rule of thumb is to limit consumer credit payments to no more than ________ percent of your net (after tax) income.

• A)20
• B)30
• C)40
• D)50
• E)60

---

Definitions:

Pluralistic Society

A society that accommodates multiple groups, cultures, or viewpoints, allowing for diversity and coexistence.

Globalization

The process by which businesses, cultures, and populations become more interconnected and interdependent through trade, communication, and cultural exchange on a global scale.

Economic Downturn

A period when economic performance declines, marked by falling GDP, rising unemployment, and reduced consumer spending.

Cultural Adaptation

The process by which individuals or groups modify their behaviors, practices, and beliefs to align with the cultural norms of a new environment.