1. Which of the following is a benefit of consumer credit to the US...

1. Which of the following is a benefit of consumer credit to the US economy as a whole?

**increased cost of consumer purchases

**decreased homeownership

**greater household debt

**lower interest rates

6. Which of the following is not one of the factors considered in the FICO credit scoring system?

**Length of credit history

**Level of debt

**Variety of debt sources

**Employment history

19. The equity in a home is defined as the

**the appraised value of the home less the current loan balance.

**the market value of the home less the current loan balance.

**the market value of the home.

**the appraised value of the home.

21. Depreciation causes a(n)_____ in the value of an automobile and, therefore, a _____ in one's wealth.
**increase; decrease

**decrease; decrease

**increase; increase

**decrease; increase