Which of the Following Statements About Borrowing Money Is Correct

question 2

Multiple Choice

Which of the following statements about borrowing money is correct?

• A) Borrow money for ordinary expenses such as food if you are out of cash just before the next payday
• B) Save about six months of earnings for contingency purposes
• C) Borrowing for things you want makes sense
• D) All of the responses are correct

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Definitions:

Denis Kearney

An Irish-American immigrant known for his role in the late 19th century as a labor leader in California, advocating against Chinese immigration.

Chinese Descent

Individuals or populations that originate from China, sharing cultural, linguistic, or ancestral ties to the country.

Social Darwinism

A theory applying natural selection and survival of the fittest to sociology, economics, and politics, often used to justify political conservatism, imperialism, and racism.

Equitable Distribution

The fair and impartial division of resources or assets among people.