Which of the following acts prohibited false advertising?
A. Sherman Act
B. Clayton Act
C. Federal Trade Commission Act
D. Celler-Kefauver Act
Answer: C
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Congress has not provided for greater transitional assistance to recipients leaving welfare
Indicate whether the statement is true or false
When consumers have less information about a product than do sellers, then this is the situation of
A) asymmetric information. B) symmetric information. C) caveat emptor. D) a market failure.
Which of the following explains the vicious circle of poverty?
a. By investing in education and infrastructure at the same time, the country can overcome the problems of poverty. b. Poverty arises out of the lack of investment, but they cannot invest because they are poor. c. A nation can shift its production possibilities curve inward by shifting more resources into the production of capital goods. d. A nation can shift its production possibilities curve outward by shifting more resources into the production of consumer goods.
In a short-run production function before diminishing returns set in, both MPL and APL will have
A. negative slopes and MPL will lie above APL. B. positive slopes and MPL will lie above APL. C. positive slopes and APL will lie above MPL. D. negative slopes and APL will lie above MPL.