The Federal Trade Commission was established in 1914 to
A. investigate unfair competitive practices.
B. regulate trade of public goods.
C. promote competition in interstate commerce.
D. prevent non-price competition.
Answer: A
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If disposable income increases from $5 trillion to $6 trillion and, as a result, consumption expenditure increases from $7 trillion to $7.8 trillion, the MPC is
A) 1.0. B) 6 ÷ 7 = 0.86. C) 6 ÷ 7.8 = 0.77. D) 5 ÷ 7 = 0.71. E) 0.8.
All points below a given indifference curve are
A) less preferred to any point on the indifference curve. B) preferred to any point on the indifference curve. C) definitely affordable. D) Both answers A and C are correct.
The discount rate is the rate that the
a. Treasury pays on savings bonds. b. Fed charges member banks. c. Fed charges on government securities. d. Fed charges the Treasury for sales of securities.
The Fed could conduct an open market purchase to eliminate an inflationary gap.
a. true b. false