Credit Terms Must Include

question 405

Multiple Choice

Credit terms must include:

• A) the principal of a debt
• B) the interest rate, if any, that applies
• C) the payment dates
• D) all of the other specific choices
• E) none of the other specific choices are necessary, but are commonly used

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Definitions:

Traffic Congestion

A condition on road networks that occurs as use increases, and is characterized by slower speeds, longer trip times, and increased vehicular queueing.

Express Lanes

Specifically designated traffic lanes designed to reduce congestion by allowing vehicles meeting certain criteria, such as carpooling or toll payment, to use a less congested lane.

Toll Roads

Highways or sections of highways for which users are required to pay a fee for access or passage.

Consumer Surplus

The discrepancy between what consumers are prepared and can afford to spend on a product or service versus what they end up paying.