21 which of the following has allowed americans a higher standard of living a wage i 4351674

21.Which of the following has allowed Americans a higher standard of living?

a.wage inflation

b.overtime pay

c.protective labor laws

d.credit buying

22.Cox and Demmitt compare credit to:





23.Consumer debt is:

a.high-priced money.

b.beginning to decline.

c.associated with freedom and independence.

d.the best way to measure a country's wealth.

24.Student debt has risen for all types of colleges, but the highest levels of debt belong to those who attend:

a.private not-for-profit colleges.

b.private for-profit colleges.

c.state universities.

d.community colleges.

25.A borrower with a discount interest loan pays:

a.interest on the full amount of the loan for the entire time period.

b.interest on the unpaid balance of the loan.

c.a large balloon payment at the beginning of the repayment period.

d.no interest.

26.Discount interest is most likely to be charged on the purchase of:

a.a franchise.

b.an automobile.

c.undeveloped land.

d.a first mortgage.

27.A working mother charged her children's Christmas gifts on her department store credit card. The type of interest she will pay on this transaction is:

a.direct interest.

b.simple interest.

c.discount interest.

d.compound interest.

28.Lower-priced money is used for:

a.recreation and entertainment.


c.discretionary spending.

d.tangible assets.

29.A New Jersey woman was given a loan to purchase 60 acres of undeveloped land in Arizona. The type of interest she will pay on this transaction is:

a.compound interest.

b.simple interest.

c.discount interest.

d.direct interest.

30.Simple interest is:

a.interest paid at the origin of the loan.

b.interest accumulated and added to the face amount of the loan.

c.interest charged only on the outstanding balance of a loan.

d.waiving of interest on a complex loan.

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