Which of the Following Is Not True About the Credit

question 100

Multiple Choice

Which of the following is not true about the Credit CARD Act of 2009?

• A) States that teaser rates must be in effect for at least 6 months
• B) Makes new disclosure statements clear and more timely
• C) Requires card issuers to post their standard card agreements on the Internet
• D) Allows card issuers to apply new (higher) interest rates to the existing card balances
• E) Requires issuers to mail monthly statements at least 21 days before payment is due

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Definitions:

Labor

The effort that people contribute to the production of goods and services in an economy, typically measured in terms of hours worked.

Production Function

A mathematical equation that describes the maximum amount of output that can be produced from a given set of inputs.

Labor Input

This denotes the amount of work effort, measured in hours or the number of employees, used in the production of goods and services.

Techniques of Production

The various methods and technologies used in the process of producing goods and services.