Truth-in-lending laws require that _____.
(A) Banks lend each other funds using the federal funds rate.
(B) Bank holding companies offer the same interest rates at all of their member banks.
(C) Sellers provide full and accurate information about loan terms.
(D) Banks allow Federal Reserve examiners to audit their financial activities.
Ans: (C) Sellers provide full and accurate information about loan terms.
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Isocost lines
A) represent the combinations of inputs that have the same marginal cost. B) represent the combinations of inputs that have the same total cost. C) are the inverse of the isoquant lines. D) represent supply and demand for inputs at a given cost.
Economic rent is the portion of a resource's total earnings above its opportunity cost
Indicate whether the statement is true or false