Which of the following federal agencies is NOT engaged in social regulation?
A) Environmental Protection Agency
B) Federal Trade Commission
C) Food and Drug Administration
D) Federal Deposit Insurance Corporation
D
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Educational services provided by public schools are:
A. excluded from GDP because they are intermediate goods. B. included in GDP at market prices. C. excluded from GDP because they are not sold in markets. D. included in GDP at cost.
When firms advertise their products, they are attempting to:
a. shift the supply curve of the product to the right. b. shift the supply curve of the product to the left. c. shift the demand for the product to the right. d. shift the demand for the product to the left. e. create a surplus of the product.
Explain the different sources of negative network externalities
If the price of a commodity increases as the result of increased demand, you would expect the:
A) supply to increase. B) quantity supplied to increase. C) quantity supplied to decrease. D) supply curve to shift to the right.