Consumer credit does date back to colonial times, as individuals were able to purchase goods and services on credit even then. Answer: E According to recent data, consumer credit use in the United States has been declining in recent years, suggesting that it may not be a major force in our economy. Therefore, the best answer would be B and E.

Solved

Consumer Credit

Question 62

Multiple Choice

Consumer credit

A) Is a privilege of the affluent.
B) Dates back to colonial times.
C) Carries no finance charge.
D) Is not a major force in our economy.
E) Use has been declining in recent years.

Correct Answer: