Enforcement and Interpretation of the Truth-In-Lending Act Is Now the Responsibility

question 41

Multiple Choice

Enforcement and interpretation of the Truth-in-Lending Act is now the responsibility of the:

• A) Federal Reserve Board.
• B) Consumer Financial Protection Bureau.
• C) Federal Trade Commission.
• D) Justice Department.

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Definitions:

Substitution Effect

The economic principle that as prices rise, consumers will replace costlier items with less expensive alternatives, holding the utility they receive constant.

Manufacturing Wage Rates

The amount of remuneration or earnings per unit of time by workers in the manufacturing sector.

College Graduate

An individual who has successfully completed a degree program at a college or university.

High School Graduate

An individual who has successfully completed the course of study at a high school, receiving a diploma or certification.