Which of the Following Best Describes Credit Reports

question 76

Multiple Choice

Which of the following best describes credit reports?

• A) Organizations must advise and receive written consent from the applicant when they request a credit report.
• B) Organizations can request a report on any employee at any time without consent.
• C) Organizations do not have to inform applicants if adverse decisions are made based on information in the report.
• D) Organizations cannot make adverse decisions based on information in such a report.

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Definitions:

Perfectly Competitive

A market structure characterized by a large number of small firms, a homogeneous product, free entry and exit, and perfect information.

ATC

Average Total Cost, which is the total cost per unit of output produced, calculated by dividing the total cost by the quantity of output.

Marginal Cost

Marginal cost refers to the additional total cost incurred from the production of an extra unit of a good or service.

Average Cost

The total cost divided by the quantity produced, reflecting the per-unit cost of production.