The Long-Term Increase in the Poverty Rate Reflects (1) Industrialization

question 12

True/False

The long-term increase in the poverty rate reflects (1) industrialization, (2) the emergence of science, and (3) the rise of capitalism.

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Definitions:

Security Interest

A legal claim or encumbrance on property or assets, securing the payment of a debt or performance of some other obligation.

Collateral

Assets pledged by a borrower to secure a loan or credit, which can be seized by the lender if the borrower fails to repay.

Perfected Interest

A legal claim or lien that has been formally established to secure priority over other claims concerning the same asset or property.

Repossession

The process by which a creditor takes back property from the borrower, due to failure to make required payments.