Federal Law Requires Creditors to Explain the Reasons for the Denial

question 24

True/False

Federal law requires creditors to explain the reasons for the denial of credit.

---

Definitions:

Level Of Consumption

The total amount of goods and services consumed by households over a certain period.

MPC

Marginal Propensity to Consume, which is the proportion of an increase in income that gets spent on consumption.

MPS

The marginal propensity to save, which is the fraction of an increase in income that is saved rather than spent.

Milton Friedman

An American economist known for his strong belief in free-market capitalism.