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:

Economic Self-interest

Economic self-interest is the motivation driving individuals or entities to make decisions that result in the greatest personal financial advantage.

Power Distance

The extent to which less powerful members of organizations and institutions accept and expect power to be distributed unequally.

Inequality

Refers to an uneven distribution of resources, opportunities, and rights among individuals or groups, leading to disparities in wealth, health, and social status.

Character Theories

Theories related to the study of personality that focus on the moral and ethical qualities of individuals.