The Special Office Created by the Dodd-Frank Act to Police

question 160

Multiple Choice

The special office created by the Dodd-Frank Act to police financial industry practices and protect borrowers is called the:

• A)Food and Drug Administration.
• B)Consumer Financial Protection Bureau.
• C)Board of Governors.
• D)Consumer Protection Agency.

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Definitions:

Market Supply

The total amount of a product or service that is available for purchase at any given price level in a market.

Equilibrium Price of X

The market price at which the quantity of a commodity demanded equals the quantity supplied, specifically for commodity X.

Demand for X

The desire and ability of consumers to purchase a specific product or service, denoted as "X."

Supply of X

The total amount of a product "X" that sellers are willing and able to sell at possible prices, within a given time period.