Answer:
Explanation:
The major provisions of the Equal Credit Opportunity Act are that it is against the established law for any creditor to differentiate against any applicant, based on certain characteristics such as race, color, religion, national origin, sex, marital status, or age
It is also considered illegal for any creditors to ask questions such as "their marital status or if they have the intention to have children.
Also, the usual practice is to inform any applicants of the status of their credit application, whether it is granted or otherwise within 30 days of application.
Generally, creditors look for information that may suggest that the applicants can easily repay their loan or credit facilities. Such as your income level, and age.
Answer:
The three economic questions that every society must answer are as follows: "What to produce?" "How to produce?" and "For whom to produce?"
"What to produce": The quantity in which a commodity is to be produced is set at that level where demand equals supply. If quality produced is more or less, then there will be dis equilibrium in the market and price will fluctuate. Hence, to maintain stable equilibrium price it becomes necessary to make demand and supply equal.
"How to Produce": There are two types of techniques. A labor-intensive technique would employ relatively more labor and less capital. On the other hand, capital- intensive technique means more capital and less labor. The choice of technique depends on the prices of the factors of production. That is, if labor is cheap and capital is expensive, a labor-intensive technique would be considered and vice-versa.
"For whom to produce": The solution of this problem is very simple commodity can be consumed only by people who have more purchasing power. Price mechanism determines the income of the workers, i.e.; purchasing power. The purchasing power of the owner of capital is determined in the same way. Thus, when the price of every commodity and every factor of production are determined, the third problem will be solved
International Trade.
When a company sells its product over the US border into another country they are participating in International Trade.
Answer:
Using Taylor's rule, when the equilibrium real federal funds rate is 3 percent, the positive output gap is 2 percent, the target inflation rate is 1 percent, and the actual inflation rate is 2 percent, the nominal federal funds rate target should be <u>6.5 %.</u>
<u />
Answer:
11%
Explanation:
Calculation to determine the markup percentage as a percentage of cost for Timothy Company
First step is to calculate the Sales revenue
Sales revenue = 1,500 units × $1,000
Sales revenue = $1,500,000
Now let calculate the Markup percentage
Markup percentage = $150,000 / ($1,500,000 - $150,000)
Markup percentage = $150,000/1,350,000
Markup percentage= 11%
Therefore Markup percentage is 11%