Which of the Following Is a Reason Why People Do

question 19

Multiple Choice

Which of the following is a reason why people do not save?

• A) They may be unable to visualize the long-term future.
• B) They may be unable to estimate future revenues or current savings needs correctly.
• C) They may prefer greater spending today rather than in the future.
• D) All of the above.
• E) Only a and c.

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Definitions:

Events of Default

Specific conditions or occurrences that trigger a breach of contractual obligations.

Loan Agreement

A legal contract between a borrower and a lender outlining the terms and conditions of a loan.

Creditor

An individual or institution to whom money is owed.

Technical Default

A failure to meet some specific terms of a loan agreement, lease, or another contract, other than the failure to make payments as and when they fall due.