When Did Installment Credit Explode on the North American Scene

question 109

Multiple Choice

When did installment credit explode on the North American scene?

• A)Just after World War II
• B)with the advent of television in the late 1940s
• C)with the advent of the automobile in the early 1900s
• D)during the recession of the 1950s
• E)during the inflation of the 1970s

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Definitions:

Inflation

The level of acceleration in the universal pricing for goods and services, diminishing the power of the dollar.

Inflation Expectations

The rate at which individuals expect the general price level of goods and services to change over a period of time.

Short-run Phillips Curve

A representation in economics that shows an inverse relationship between the rate of unemployment and the rate of inflation in the short-term.

Unemployment

The condition wherein people who are able and willing to work and are actively looking for work cannot secure a job.