Briefly explain why, until 2008, Americans amassed record amounts of debt and why the free-spending trend has ended
What will be an ideal response?
Americans spent freely, fueled by income growth, a boom in the stock market and rapid increases in home values. Americans bought and bought, seemingly without caution, amassing record levels of debt. However, the free spending and high expectations of those days were dashed by the Great Recession of 2008/2009.
You might also like to view...
Freight charges associated with the purchase of inventory normally are not included in inventory cost
Indicate whether the statement is true or false
When a partnership is liquidated and the amount received from the sale of assets is more than the book value of the assets, the difference between cash received and the book value is treated as revenue to the partnership
Indicate whether the statement is true or false
________ is the first, or "big picture," level of planning.
A. Business planning B. Strategic planning C. Functional planning D. Product development E. Operational planning
Just to be safe, when meeting managers from any country outside the United States, it is best to bow slightly and say, "I am so honored to make your acquaintance."
Indicate whether the statement is true or false.