The European Union Recommends Maximum Credit Terms for Many Items

question 47

True/False

The European Union recommends maximum credit terms for many items including, for example, heavy capital goods (five years), light capital goods (three years), and consumer durable goods (one year).

---

Definitions:

Barbary Wars

The first wars fought by the United States, and the nation’s first encounter with the Islamic world. The wars were fought from 1801 to 1805 against plundering pirates off the Mediterranean coast of Africa after President Thomas Jefferson’s refusal to pay them tribute to protect American ships.

Federalist Party

A political party in the early United States that advocated for a strong federal government, a commercial economy, and close relations with Britain.

U.S. Navy

The naval warfare branch of the United States Armed Forces, responsible for naval defense and the protection of American interests abroad.