When a Borrower Fails to Pay Back a Loan According

question 77

Multiple Choice

When a borrower fails to pay back a loan according to the agreed-upon terms, it is called:

• A) credit risk.
• B) default.
• C) adverse selection.
• D) asymmetric information.

---

Definitions:

Federalists

Originally, supporters of the ratification of the U.S. Constitution; more broadly, it can refer to proponents of a strong federal government.

Antifederalists

Opponents of the ratification of the U.S. Constitution, fearing it granted too much power to the federal government at the expense of states' rights.

Political Equality

The principle that all citizens have equal rights and opportunities to participate in the political process.

Social Equality

The condition in which all individuals within a society have the same status in certain respects, including civil rights, freedom of speech, property rights, and equal access to social goods and services.