The Federal Trade Commission was established in 1914 to
A) regulate trade of public goods.
B) promote competition in interstate commerce.
C) investigate unfair competitive practices.
D) prevent non-price competition.
Correct answer is C) investigate unfair competitive practices.
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In order to move aggregate demand to the level consistent with full employment by means of fiscal policy, government officials who set the budget must know
A) the current level of aggregate demand. B) the level of aggregate demand that would be consistent with full employment. C) the size of the budget changes required to induce the appropriate-sized changes in aggregate demand. D) all of the above.
Which one of the following statements regarding job turnover in the U.S. labor market is false?
A. Workers who have a lot of seniority are likely to switch to a different firm when their wage-age profile begins to flatten out. B. The quit rate is higher than the layoff rate for both young and old workers when they are in the first few years on a job. C. The overall separation rate is much higher for younger workers than older workers. D. The overall separation rate falls with tenure on the job. E. The quit rate is almost always higher than the layoff rate.
If actual reserves in the banking system are $40,000, excess reserves are $10,000, and checkable deposits are $240,000, then the legal reserve requirement is:
A. 10 percent. B. 12.5 percent. C. 20 percent. D. 5 percent.
Which of the following is included in GDP?
A. Welfare payments received by some households B. Fees received by stockbrokers C. Cash gifts from relatives during the holidays D. Payments received from selling stocks in one's portfolio