Teenagers and Young Adults with No Income and Few Assets

question 137

Multiple Choice

Teenagers and young adults with no income and few assets are sometimes prime targets for credit card companies. In response, Congress in 2009 passed the Credit CARD Act which requires that anyone under age ____ must have a cosigner or prove they can repay any debt.

• A) 16
• B) 18
• C) 21
• D) 23
• E) 25

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Definitions:

Domestic Output

The collective worth of every product and service generated inside a nation's boundaries over a specific duration.

Total Wage Bill

The cumulative amount of money a firm pays to its employees in wages over a specific period.

Domestic Output

The total value of all goods and services produced within a country's borders in a specific period, reflecting the country's economic performance.