For the FTC to consider a practice to be unfair, it must meet a three-part test. Which of the following is NOT one of those tests?
A. The practice causes a substantial consumer injury.
B. The harm of the injury outweighs any countervailing benefit.
C. The consumer had no reasonable way to recoup lost funds from the injury.
D. The consumer could not reasonably avoid the injury.
Answer: C
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A new shampoo advertisement on television tells all of the wonderful benefits the consumer will enjoy when using one company's shampoo as opposed to another shampoo. What is this company seeking to convey in this television commercial?
A) the product's time utility B) the product's distinctive competency C) the company's production orientation D) the company's marketing segmentation process E) the product's differential benefits
________ is a tendency to judge foreign people or groups by the standards of one's own culture or group, and to see one's own standards as superior.
A. Polycentrism B. Utilitarianism C. Ethnocentrism D. Nepotism E. Relativism
Which of the following statements about a variable universal life insurance policy is (are) true?
I. There is a minimum guaranteed interest rate for the cash value. II. The policyowner has a variety of investment options for the savings component of the policy. A) I only B) II only C) both I and II D) neither I nor II
The doctrine of comity holds that there must be mutual respect for the laws, institutions, and governments of other countries in the matter of jurisdiction over their own citizens.
Answer the following statement true (T) or false (F)