What Is One Potential Problem That the Credit Card Act

question 1

Multiple Choice

What is one potential problem that the Credit Card Act of 2009 does not address?

• A)Students can have a credit card even if they do not have a job.
• B)Consumers under 21 must have a cosigner or large enough income to cover payments.
• C)Credit card companies can't offer free gifts for applying if they are on a college campus.
• D)Credit card companies can only offer incentives if they are over 1,000 feet off of a college campus.

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Definitions:

Shortage

The amount by which the quantity demanded of a product exceeds the quantity supplied at a particular (below-equilibrium) price.

Market

Any institution or mechanism that brings together buyers (demanders) and sellers (suppliers) of a particular good or service.

Majority Voting

A decision-making process where the choice that gathers more than half of the votes wins, commonly used in democratic elections and organizations.

Public Good

A product or service that is provided without profit to all members of a society, either by the government or a private individual or organization.