The Equal Credit Opportunity Act Would Not Prohibit Which of the Following

question 32

Multiple Choice

The Equal Credit Opportunity Act would not prohibit which of the following?

• A)First Bank refuses to extend credit to females.
• B)First Bank refuses to extend credit to men over 70 years of age.
• C)First Bank refuses to extend credit to people with incomes below $10,000.
• D)First Bank refuses to extend credit to people from Italy.

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Definitions:

Demand Determined

A situation where the quantity and price of goods or services are decided by consumer demand rather than other factors.

Labor Force

The total number of people, including both the employed and those actively seeking employment, available to work in an economy.

Investment Spending

Expenditures on new physical capital, such as buildings, machinery, and equipment, intended to increase future production.

Great Depression

A severe worldwide economic depression that took place during the 1930s, marked by high unemployment and financial instability.