Under the Equal Credit Opportunity Act, for Which of the Following

question 26

Multiple Choice

Under the Equal Credit Opportunity Act, for which of the following is it illegal for a bank to discriminate against borrowers?

• A)The applicant's income
• B)The applicant's credit history
• C)The applicant's national origin
• D)The applicant's job history
• E)A civil judgement against the applicant

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Definitions:

Marginal Social Benefit

The additional benefit to society as a whole from one more unit of a good or service being consumed.

Marginal Private Benefit

The additional benefit or satisfaction received by a consumer or producer from consuming or producing one more unit of a good or service.

Marginal Social Cost

The total cost to society of producing an additional unit of a good or service, including both private costs and any externalities.

Nonexcludable

A characteristic of public goods where it is not possible to prevent individuals from using the good or service, regardless of whether they have paid for it.