Which of the Following Protects Consumers' Ability to Challenge Information

question 66

Multiple Choice

Which of the following protects consumers' ability to challenge information contained in a credit file?

• A) Fair Credit Billing Act
• B) Equal Credit Opportunity Act
• C) Fair Debt Collection Practices Act
• D) Fair Credit Reporting Act

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Definitions:

Opportunity Cost

The expense incurred by not choosing the second-best option available when a decision is made or an action is taken.

Pure Capitalism

An economic system characterized by private ownership of the means of production and where investments, distribution, income, production, and prices are determined by the market.

Owns No Resources

The condition of not having access to or control over any assets, capital, or means of production.

Production Possibilities Frontier

A curve that shows the different combinations of various goods that a country can produce given certain resources and technology.