Because capitalism is practiced in the United States, misleading advertising is permitted.
a. true
b. false
Ans: b. false
You might also like to view...
When the economy is at its potential output level, which of the following is true? a. The price level is higher than that expected by workers. b. The nominal wage is equal to the real wage
c. The unemployment rate is about 14 percent. d. The economy is producing its maximum sustainable output. e. The actual price level is less than the expected price level.
Clara produces and sells tomatoes in a perfectly competitive market. This implies that Clara's marginal revenue generated from selling an additional unit of tomatoes is always equal to
A. variable cost. B. profit per unit. C. average cost. D. price.
When the United States has a current account deficit, it must ______.
a. reduce the difference by increasing its unilateral transfers to foreigners b. finance the difference by importing more goods and services than it sells c. finance the difference by borrowing or by selling more capital assets than it buys d. increase the difference by borrowing or by buying more capital assets than it sells
Cost-benefit analysis attempts to:
A. compare the real worth, rather than the market values, of various goods and services. B. compare the relative desirability of alternative distributions of income. C. determine whether it is better to cut government expenditures or reduce taxes. D. compare the benefits and costs associated with any economic project or activity.