Which of the Following Legislations Created the Consumer Financial Protection

question 54

Multiple Choice

Which of the following legislations created the Consumer Financial Protection Bureau (CFPB) ?

• A)The Restoring American Financial Stability Act
• B)The Consumer Product Safety Commission
• C)The Federal Financial Supervisory Authority
• D)The Product Quality Commission

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Definitions:

Lags

Delays in the effect of economic policies or other changes in the economy, which can affect the timing and efficiency of economic outcomes.

Discretionary Fiscal Policy

Fiscal measures, such as government spending and taxation, actively applied by a government to influence the economy, especially to counteract recession or control inflation.

Inflation

The rate at which the widespread price level of goods and services rises, impairing the purchasing power.

Taxes

Mandatory financial charges or levies imposed by a government on individuals, corporations, or other entities to finance government spending and various public expenditures.