The Federal Trade Commission Act, as amended, prohibits
A) horizontal mergers.
B) price-fixing agreements.
C) unfair competitive practices and deceptive acts.
D) price discrimination.
Answer: C
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A futures contract is an agreement to buy a commodity at a specific future date, at a price set today.
Answer the following statement true (T) or false (F)
One reason a country might choose a flexible exchange rate
A) to reduce inflation and promote a stable economic environment. B) to reduce the impact of economic shocks. C) to rid themselves of the pressure of monetary management. D) that it is easier for all citizens to understand.
By the time Paul Volcker took office as the new Federal Reserve chairman in 1979, the inflation rate exceeded 10%. By the end of 1986 the inflation rate had been brought down to 1.9%. Which of the following is true about the Volcker Disinflation?
A) lower inflation resulted from a tightening of monetary policy B) by raising the federal funds rate to over 20%, the Federal Reserve stimulated the economy resulting in lower levels of both inflation and the unemployment rate by the early 1980s C) the unemployment rate was brought down by 1982 but it took longer to reach lower inflation rates D) all of the above E) none of the above
See Scenario 4.5. As the price of grilled cheese sandwiches decreases, the price elasticity of demand:
A) increases. B) does not change. C) decreases. D) none of the above