The Finance Charges for a Loan May Include

question 75

Multiple Choice

The finance charges for a loan may include

• A) fees for a credit check.
• B) required insurance fees.
• C) interest payments.
• D) Only choices A and B.
• E) All of the above choices.

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Definitions:

Elastic Demand

Elastic demand refers to a situation where the quantity demanded of a product or service significantly changes in response to changes in its price.

Excise Tax

A specific type of tax imposed on certain goods, services, or activities, often aimed at discouraging their use or raising revenue from specific sources.

Government Revenue

The total money received by a government from taxes and non-tax sources to finance government operations and services.

Excise Tax

A tax applied to specific goods or services, often included in the price of products such as tobacco, alcohol, and fuel.