When Did Installment Credit Explode on the American Scene

question 151

Multiple Choice

When did installment credit explode on the American scene?

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

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Definitions:

Lease

A contract granting use or occupancy of property during a specified period in exchange for a specified rent or other terms.

Corporate Objective

The goals or plans that a corporation aims to achieve, which guide its operational and strategic decisions.

Shareholders

Individuals or entities that own one or more shares of stock in a public or private corporation, thereby having a financial stake in the company's performance.

Respondeat Superior

A law principle stating that an employer or a principal is legally liable for the improper actions of an employee or agent, provided those actions took place during the course of their employment or agency.