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Discuss that consumers who use credit should be aware of laws that are in place to protect them and that these include requirements to provide full disclosure of credit terms such as APR and fees, as well as protection against discrimination and abusive marketing or collection practices. Explain why it is important that consumers have full information about loans. Explain the information on a credit disclosure statement. ***Explain that consumers are entitled to a free copy of their credit report annually so that they can verify that no errors were made that might increase their cost of credit . Explain why it is important to check the accuracy of the information recorded on a credit report and know what steps to take to correct errors on credit reports.
Explain why do people often apply for a mortgage to purchase a home and identify a mortgage is a type of loan that is secured by real estate property as collateral.
The price elasticity of demand for the final product affects the own-wage elasticity of demand for labor by affecting the magnitude of:
For each of the following, use the concept of revealed preferences to rank the two bundles of goods. If you cannot rank them, explain why. The price of 3 Brooks Brothers suits is $3000. The price of one Anderson and Sheppard suit is $5000. Bruce choo..
Figure 1 is the cost and revenue curves for a perfectly competitive firm.
How do the following activities contribute to the US Economy? Explain your answers clearly and be precise.
For out Back Steakhouse, seating capacity is limited in the short run.
Suppose you have an offer of $200,000 to sell your house this year. The market rate of interest is 10%. You expect to be able to sell your house next year for $230,000. How does this relate to the theory of nonrenewable resource allocation over time?..
Explain how each of the following programs would effect the elasticity of demand for teachers in public education and if so, in which direction.
Suppose the demand for labor market is given by L = 408−2w and the market supply is given by L = 10w. In a graph draw the supply and demand curves and find the equilibrium wage and amount of employment. Show the seller’s and consumer’s surplus. Calcu..
Explain the pros and cons of using a change in the tax rate to achieve the desired increase in output. Be sure to thoroughly elucidate how the change will affect equilibrium prices, output, and unemployment.
Use the aggregate expenditure model to explain the following statements from the opening news article.
There are at least two different possible approaches to the problem of building a model of the costs of production of electric power. What functional form would you recommend for estimating Model I? Be sure to write out a specific equation. What func..
"Because of unusually good growing conditions, the supply of strawberries has substantially increased." This statement indicates that:
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