When a Borrower Fails to Pay Back a Loan According

question 164

Multiple Choice

When a borrower fails to pay back a loan according to the agreed-upon terms, it is called:

• A) credit risk.
• B) default.
• C) opportunity cost.
• D) inflation.

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Definitions:

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The total sum of all wages paid to employees, as well as the costs of employee benefits and payroll taxes, incurred by an employer.

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A geographic and cultural region in the United States, historically characterized by its distinct social, economic, and historical features, notably including the practice of slavery prior to the Civil War.

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Political ideology favoring tradition, limited government, and gradual change in society, often emphasizing individual liberty and free markets.