Cumulative Exam — Cumulative exam Answers

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22
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Each of the following will take place when a customer makes a purchase with a credit card EXCEPT:

A
bank pays the store on customer’s behalf
B
customer’s credit limit will increase
C
customer receives a bill from credit card issuer
D
finance charges added to the customer’s account
23

Cost of production includes all of the following EXCEPT:

A
input costs
B
product price
C
government action
D
available technology
24

The United States became an industrialized nation during __________.

A
World War I
B
World War II
C
the Second Industrial Revolution
D
the Great Depression
25

The need to regulate the US money supply was the idea behind the formation of the __________.

A
Second Bank of the United States
B
Federal Reserve System
C
National Credit Union Administration
D
Federal Deposit Insurance Corporation

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