The Federal Trade Commission (FTC) was established to investigate unfair and deceptive business practices
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Ted's Pancake Kitchen suffers a short-run loss. When should Ted decide to shut down rather than continue to produce?
A) if his Kitchen's revenue is less than its fixed costs B) if his Kitchen's revenue is less than its total costs C) if his Kitchen's revenue is less than its variable costs D) if his Kitchen's revenue is less than its explicit costs
The idea that a permanent increase in income causes a larger increase in consumption than a temporary change in income is called the
A) Friedman-Lucas theory. B) permanent income hypothesis. C) Ricardian equivalence theorem. D) intertemporal substitution effect.
A horizontal long-run industry supply curve occurs under conditions of
a. economies of scale b. diseconomies of scale c. monopoly d. increasing costs e. constant costs
When a tax is imposed on sellers, consumer surplus and producer surplus both decrease
a. True b. False Indicate whether the statement is true or false