"Unfair or deceptive acts or practices in commerce" were prohibited by the

A. 1938 amendment to the Federal Trade Commission Act.
B. Clayton Act.
C. Clayton Act as amended by the Robinson-Patman Act.
D. Federal Trade Commission Act.


Answer: A

Economics

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A monopoly creates a deadweight loss because the monopoly

A) sets a price that is too low. B) makes a normal profit. C) does not maximize profit. D) produces less than the efficient quantity. E) produces more than the efficient quantity.

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Which factor of production earns most income in the United States?

A) capital B) labor C) money D) entrepreneurship

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The highest measured rate of unemployment in the United States occurred during

A. the Carter administration. B. the Panic of 1893. C. the Great Depression. D. the post-WWII years.

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Which of the following examples would most likely be subject to selection bias?

A. a study that randomly sampled 100 hunters in Minnesota to determine if newly implemented state hunting limits would reduce the number of hunting trips they took in the state each year B. a study that randomly sampled 100 tourists of legal drinking age on the Las Vegas Strip to determine the average amount they spend each day on alcoholic beverages while in Las Vegas C. a study that randomly sampled 100 people issued speeding tickets on the New Jersey Turnpike to determine if drivers believe the New Jersey Department of Transportation should raise the current 65 mph speed limit to 75 mph D. a study that randomly sampled 100 passengers at Chicago O'Hare International Airport to get their opinions about decreased legroom on commercial airplanes

Economics