In Comparing Credit Cards to Other Forms of Credit,which of the Following

question 8

Multiple Choice

In comparing credit cards to other forms of credit,which of the following is false?

• A) Credit cards are generally the most expensive form of credit.
• B) You should pay the most expensive debt off first.
• C) Credit cards can be viewed as a source of funds.
• D) A home equity loan is a way of combining credit card and other debt.

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Definitions:

Price Ceiling

A government-imposed limit on how high a price is charged for a product.

Oil Products

Refined products derived from crude oil processing, such as gasoline, diesel, jet fuel, and heating oil.

Hugo Chávez

Former Venezuelan military officer and politician who served as the President of Venezuela from 1999 until his death in 2013.

Price Ceiling

A legally imposed maximum price on a good or service, intended to prevent prices from rising above a certain level.