Economics Today and Tomorrow, Student Edition
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN: 9780078747663
Author: McGraw-Hill
Publisher: Glencoe/McGraw-Hill School Pub Co
Question
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Chapter 4, Problem 9AA
To determine

To analyze the option best suited for the blank.

Expert Solution & Answer
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Explanation of Solution

Consumer debt consists of personal loans incurred as a result of the purchase of goods used for consumer or household use. Credit card debt, student loans, auto loans, mortgages and payday loans are all forms of consumer debt.

The total amount of consumer debt in the United States is enormous.

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