Question

which of these students has an accurate statement on debt in america?○ gerardo: \there is no excuse for anyone to have debt. if you work hard enough, you should always be able to avoid debt.\○ josé: \high debt balances are relatively uncommon in america and usually only the result of an emergency or surprise expense.\○ manu: \many people have many different types of debt, and it is relatively common for americans to carry some debt.\○ blaise: \credit card debt makes up the largest portion of household debt for most americans today.\possible points: 10

Explanation:

• Gerardo's statement is incorrect because many factors (like medical costs, low wages, or necessary large purchases) can lead to debt even with hard work.
• José's statement is wrong: high debt balances are common in America, and not just from emergencies.
• Blaise's statement is incorrect: mortgage debt makes up the largest portion of U.S. household debt, not credit card debt.
• Manu's statement is accurate: American households commonly hold various debt types (mortgages, student loans, credit cards, etc.), and carrying some form of debt is typical.

Answer:

Manu: "Many people have many different types of debt, and it is relatively common for Americans to carry some debt."