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:

International Law

A body of rules, agreements, and treaties that govern the conduct and relations between different nations and states.

Public Purpose

This term refers to an underlying principle that government actions must serve the general interests of the community or public at large, rather than private interests.

Just Compensation

A principle requiring that when private property is taken for public use, the owner must be fairly compensated.

Trade Agreements

Contracts between two or more nations that outline how they will work together to ensure mutual benefit in trade.