What Is the Number One Reason Why Consumers Default on Their

question 81

Multiple Choice

What is the number one reason why consumers default on their debts?

• A)medical expenses
• B)defective goods and services
• C)excessive use of credit
• D)fraudulent use of credit
• E)consumer fraud

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Definitions:

Inflationary

Pertaining to inflation, describing a situation or trend where prices for goods and services rise over time, diminishing purchasing power.

Government Expenditures

The total amount of money spent by the government in a given period, including spending on goods and services, transfer payments, and interest on debt.

Federal Reserve

The central banking system of the United States, responsible for conducting the nation's monetary policy and regulating its financial institutions.

Treasury

The government department responsible for developing and executing the national fiscal policy, including the collection of revenue and expenditure of government funds.