When did installment credit explode on the American scene?
A)with the advent of the automobile in the early 1900s
B)with the advent of television in the late 1940s
C)just after World War II
D)during the recession of the 1950s
E)during the inflation of the 1970s

Question

Quizplus · Accepted Answer

Installment credit exploded on the American scene with the advent of the automobile in the early 1900s. This allowed people to purchase cars on credit and pay them off in monthly installments, leading to a shift in consumer behavior and a rise in overall consumer debt.

When Did Installment Credit Explode on the American Scene