Collateral Is an Item of Value Used to Secure the Principal

question 9

True/False

Collateral is an item of value used to secure the principal portion of a loan.

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Definitions:

Internal Migration

Movement of a population within a country.

Great Depression

A severe worldwide economic downturn that took place during the 1930s, marked by massive unemployment and the collapse of financial institutions.

Dispossessed Farmers

Farmers who have lost their land and livelihood, often due to economic, political, or environmental pressures.

Metropolitan Statistical Area (MSA)

An area with at least one major city of 50,000 or more inhabitants that is surrounded by adjacent counties that are socially and economically integrated with the city core.