The Federal Trade Commission is charged with protecting consumers from false and misleading advertising
a. True
b. False
Indicate whether the statement is true or false
True
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Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
The figure above shows the costs and benefits associated with producing paper. What is the marginal external cost when output is 6 tons?
A) $1,600 B) $1,200 C) $1,000 D) $600 E) $400
Prices of related goods are a determinant of demand but not supply
Indicate whether the statement is true or false
If a price ceiling of $8 were placed in the market in the graph shown:
A. a shortage of 23 would occur. B. a shortage of 7 would occur. C. a shortage of 8 would occur. D. a shortage of 15 would occur.