Reading through a credit card disclosure (aka the Schumer Box), you see the A.P.R. for a specific card is set at 9.99% - 23.99%.
Which of the following statements is probably TRUE? a. When given a range of A.P.R.s like this, you can assume most cardholders pay the lowest rate listed
b. One of the primary factors determining your card's A.P.R. is your credit score
c. With credit card A.P.R.s, cardholders like higher A.P.R.s because they earn more
d. The A.P.R. on credit cards is usually fixed so they won't be adjusted as long as you are a cardholder
If the A.P.R. for a specific card is set at 9.99% - 23.99%, it shows the range of the A.P.R bank is offering for the card. It means the A.P.R. can be any % between 9.99% and 23.99%. The A.P.R. is decided on the basis for the credibility of the borrower. The credit score of the borrower is the factor to determine the credibility of the borrower. Hence the A.P.R of the card is determined on the basis of the credit score of the borrower.
Hence, the correct answer is:
b. One of the primary factors determining your card's A.P.R. is your credit score
Limited liability means the business owners' liability for debts is restricted to the amount they put into the business. With unlimited liability, the business owner is personally responsible for any loss the business makes.
Perfect competition is a market characterized by many buyers and sellers that have full information and faces no barrier in entry and exit of the markets. It is the ideal form of market structure where competition is at is greatest possible value. The numerous buyers and sellers are engaged in trade of a homogeneous good in the market. It is also characterized by no long run economic profit and no control over prices.
When surplus <span>funds are set aside (idling the excess) and the government does not spend the money nor apply it to past debt, this action does not cause expansion or contraction. That statement is true. Expansion or contraction happens when the amount of Government budget is accumulated or decreased as the result of last year's operations</span>
