Which of the Following Statements Express the Purpose of the Truth-In-Lending

question 45

Multiple Choice

Which of the following statements express the purpose of the Truth-in-Lending Act?

• A) To require lenders to charge a "reasonable" rate of interest.
• B) To help small business.
• C) To provide consumers with information necessary to make the best credit decision.
• D) To help lenders limit state laws.

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Definitions:

Latent Factor

An underlying variable that is not directly observed but influences patterns of correlation between observed variables.

Control Factor

An element or variable that is manipulated or held constant in a study or experiment to determine its effect on the outcome.

Independent Variable

In an experiment, the variable that is manipulated or changed to observe its effect on the dependent variable.

Dependent Variable

In research, the outcome factor that is measured to test the impact of variations in the independent variable.