An Example of Open-End Credit Is

question 38

Multiple Choice

An example of open-end credit is:

• A)the use of a bank credit card to make a purchase.
• B)a mortgage loan from a savings and loan institution.
• C)an automobile loan from a credit union.
• D)an installment loan from a furniture store.
• E)an installment loan for purchasing a major appliance.

---

Definitions:

Trash Per Person

This term refers to the average amount of waste generated by an individual over a certain period of time.

Economic Efficiency

A state of resource allocation where it is impossible to make any one individual better off without making someone else worse off.

Water Use

The act of utilizing water resources for various purposes such as drinking, agriculture, industry, hygiene, and recreational activities.

Per Capita Real GDP

An economic measure that represents the inflation-adjusted gross domestic product divided by the total population, indicating the average economic output per person.