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Case
Respond to the following case using the IRAC format as described on the directions posted on MyCMU. There are written instructions posted as well as an audio explanation of how to do the assignment. The document should be typed in a Word document (or rich text format) and sent to me via file exchange as described on the syllabus.
Gloria Mahon incurred a bill of $279.70 for medical services rendered by Dr. Larry Bowen. For more than two years, Bowen sent monthly billing statements to the Mahons at their home address (where they have lived for forty-five years). Getting no response, Bowen assigned the collection of their account to Credit Bureau of Placer County, Inc. Credit Bureau uses computerized collection tracking and filing software, known as Columbia Ultimate Business Systems (CUBS). CUBS automatically generates standardized collection notices and acts as an electronic filing system for each account, recording all collection activities, including which notices are sent to whom and on what date. Credit Bureau employees monitor the activity, routinely noting whether an envelope is returned undelivered. Credit Bureau mailed three CUBS-generated notices to the Mahons. According to Credit Bureau's records, the notices were not returned and the Mahons' account as delinquent. The Mahons filed a suit in a federal district court against Credit Bureau, alleging in part that the agency had failed to send a validation notice, as required by the Fair Debt Collection Practices Act. Credit Bureau filed a motion for summary judgment. Should a notice be considered sent only if a debtor acknowledges its receipt? Why or why not? [Mahon v. Credit Bureau of Placer County, Inc., 171 F.3d 1197 (9th Cir. 1999)]
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Why is the debate between the international dependence and the neoclassical counter-revolution schools referred to as “finger pointing?”
Give examples of government regulations that work and examples of government regulations that do not work. Explain why in each case. How does politics affect economic policies? Is it negative or positive?
Frank receives an annuity of $71568 at the end of each year. The amount he receives decreases by 3% each year. If Frank deposits the annuity in an account paying 9% compounded annually, how much will Frank have in the account at the end of 8 years?
Use the theory of liquidity preference and the market for real money balances to illustrate graphically the impact of a decrease in income on the equilibrium interest rate. Be sure to label: i. the axes; ii. the curves; iii. the initial equilibrium v..
Coca-Cola and PepsiCo are the leading competitors in the market for cola products. In 1960 Coca-Cola introduced Sprite, which today is the worldwide leader in the lemon-lime soft drink market and ranks fourth among all soft drinks worldwide. Diagram ..
Assume that a 1- year discount bond (bond A) with a face value of $1,000 is currently trading at PV = $938.97, and another 2-year discount bond (bond B) with identical risk features and face value is currently trading at $834.01. Please calculate the..
The EU is the biggest common market worldwide. Please name the most important facts that describe the size and importance of this market.
Two firms compete by choosing price. Their demand functions are Q1 = 40 – P1 + 0.5P2 and Q2 = 20 +0.5P1 - P2where P1 and P2 are the prices charged by each firm, respectively, and Q1 and Q2 are the resulting demands. a. Firm 1’s best response function..
Calculating MPC, In one year, a consumer's income increase by $400 and her consumption increases by $120. Her marginal propensity to consume is equal to.
When sketching a graph of a market in which sellers have limited ability to adjust the amount they produce, I will draw the supply curve with
Suppose that TFP and the population of an economy are constant over time and equal to 1. Assume that everyone works and the labor input just equals the population. Assume that the capital stock in 2014 is 1. What is the amount of saving (and, hence, ..
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