Any Change in the Price of an Input Can Be

question 16

True/False

Any change in the price of an input can be expected to move equilibrium price up or down in the same direction along the market demand curve.(Everything else held fixed.)

---

Definitions:

TILA (Truth in Lending Act)

A United States federal law designed to protect consumers in their dealings with lenders and creditors by requiring clear disclosure of key terms of the lending arrangement and all costs.

Promissory Note

A written, legally binding agreement in which one party promises to pay another a specified sum of money at a specified time.

Security Interest

A legal claim or right on collateral granted to a lender, ensuring the collection of a debt or obligation.

Real Property

Refers to land and anything permanently attached to it, such as buildings, and is distinct from personal property.