- 9.1.1: Explain how to dispute an error on your credit statement.
- 9.1.2: List ways you can protect yourself from credit card fraud.
- 9.1.3: Explain the purpose of consumer advocacy groups.
- 9.1.4: List three federal government agencies that help protect consumers....
- 9.1.5: What does the term delinquency mean as it relates to a credit account?
- 9.1.6: What is a collection agency? Why might your credit account be turne...
- 9.1.7: Describe what you can do to prevent garnishment or repossession of ...
Solutions for Chapter 9.1: Resolving Credit Problems
Full solutions for Personal Financial Literacy | 1st Edition
total revenue divided by the quantity sold
goods that are excludable but not rival in consumption
an agreement among firms in a market about quantities to produce or prices to charge
a difference in wages that arises to offset the nonmonetary characteristics of different jobs
the interest rate on the loans that the Fed makes to banks
the offering of different opportunities to similar individuals who differ only by race, ethnic group, sex, age, or other personal characteristics
diseconomies of scale
the property whereby long-run average total cost rises as the quantity of output increases
the study of how society manages its scarce resources economies of scale the property whereby long-run average total cost falls as the quantity of output increases
the quantity supplied and the quantity demanded at the equilibrium price
a measure of the price level calculated as the ratio of nominal GDP to real GDP times 100
gross domestic product (GDP)
the market value of all final goods and services produced within a country in a given period of time
internalizing the externality
altering incentives so that people take account of the external effects of their actions
the process by which workers find appropriate jobs given their tastes and skills
the political philosophy according to which the government should punish crimes and enforce voluntary agreements but not redistribute income
an economy that allocates resources through the decentralized decisions of many firms and households as they interact in markets for goods and services
an economy that interacts freely with other economies around the world
a tax for which highincome and low-income taxpayers pay the same fraction of income
goods that are neither excludable nor rival in consumption
deposits that banks have received but have not loaned out
a government policy that directly influences the quantity of goods and services that a country imports or exports