THE GREAT DEPRESSION 1929 1940
THE GREAT DEPRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is an opinion about credit?
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During the 1920s, people could buy stocks on credit
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Credit makes it easier for people to buy things they can’t afford
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We would be better off if credit cards had never been invented.
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The easy availability of credit during the 1920s led to an increase in debt.
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Explanation:
Detailed explanation-1: -The idea of credit has been around for a long time. But a Brooklyn banker named John Biggins invented the model of our modern-day credit cards in 1946.
Detailed explanation-2: -Building credit, earning cash back and benefiting from fraud protection are just a few of the many advantages of using credit cards.
Detailed explanation-3: -Using a credit card responsibly is one of the best ways to build a strong credit history-something that can help you score the most favorable rates on big loans for cars and mortgages, pay less for insurance, get access to more housing options and more.
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