The Federal Trade Commission is charged with:
A. supervising cartels in the United States.
B. aiding small business in contract negotiations with foreign companies.
C. investigating unfair and deceptive trade practices.
D. approving contracts between businesses and government.
Answer: C
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Which of the following is a normative economic statement?
A) An increase in corporate income taxes will cause the unemployment rate to increase. B) The costs of medical care are increasing faster than the incomes of U.S. citizens. C) Teenage unemployment is over ten percent. D) Teenage unemployment is too high.
In the arena of decision making, the choice that will automatically take place if the chooser fails to make an active decision is called the:
A. processing option. B. default option. C. choice option. D. auto option.
The __________ is the price of money (loanable funds).
A. wage B. rent C. demand D. interest rate
The market for novels is
a. perfectly competitive. b. a monopoly. c. monopolistically competitive. d. an oligopoly.