The Federal Trade Commission
a. was abolished by the Celler-Kefauver Act
b. was established when the Antitrust Division of the Justice Department was eliminated
c. largely deals with telephone and utility regulation
d. is a weak and ineffective government agency
e. investigates unfair and deceptive trade practices
E
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The expenditure multiplier measures the change in
A) autonomous spending that results from a change in equilibrium expenditure. B) equilibrium expenditure from a change in induced consumption. C) consumption expenditure for a given change in disposable income. D) equilibrium expenditure that results from a change in autonomous expenditure. E) the price level that results from a change in real GDP.
The multiplier means that an increase in investment results in ________ aggregate expenditure that is ________ the increase in investment
A) increased; the same size as B) increased; smaller than C) decreased; larger than D) decreased; smaller than E) increased; larger than
Suppose the price elasticity of demand for oil is 0.1. In order to lower the price of oil by 20 percent, the quantity of oil supplied must be increased by
A) 200 percent. B) 20 percent. C) 2 percent. D) 0.2 percent.
Net investment income from abroad is investment earnings by U.S. residents from their foreign assets plus investment earnings by foreigners from their assets in the United States
Indicate whether the statement is true or false