Charge Accounts Are Referred to as Open-Ended Credit Because They

question 160

Multiple Choice

Charge accounts are referred to as open-ended credit because they

• A) ​allow repeated borrowing without having to reapply for the credit each time.
• B) ​don't have to be paid off completely each month.
• C) ​make use of a plastic card.
• D) ​can be used to purchase merchandise or to borrow cash.

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Definitions:

Cognitive Dissonance

A psychological phenomenon where an individual experiences discomfort from holding two or more contradictory beliefs, values, or ideas simultaneously.

Inconsistencies

Occurrences of being in conflict or not being consistent in thoughts, behaviors, or actions.

Attitudes

Mental inclinations demonstrated through assessing a specific entity with a certain level of preference or aversion.

Kitty Genovese

A woman whose 1964 murder in New York City became famous due to the alleged inaction of numerous witnesses, later prompting the study of the bystander effect.