One of the administrative bodies responsible for initiating actions on behalf of the U.S. government against individuals or companies violating antitrust laws is the
A. Department of the Interior.
B. Federal Trade Commission.
C. Federal Utility Commission.
D. Interstate Commerce Commission.
Answer: B
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A market equilibrium occurs
A) only with government regulation. B) only because of the profit motive of firms. C) only because of the complacency of consumers. D) through the interaction of self-interested consumers and producers.
If the demand for hand-sewn leather shoes increases, it is highly likely the demand for:
A. leather will decrease. B. skilled sewers will increase. C. needle and thread will decrease. D. all shoe-types will also increase.
The Securities and Exchange Commission (SEC) oversees the regulation of the securities market
a. True b. False Indicate whether the statement is true or false
The marginal value of a commodity to a consumer
a. increases as more of the good is consumed. b. is exactly equal to price for all units purchased by the consumer. c. is measured by the height of the individual consumer's demand curve. d. is equal to the area above the price and below the individual consumer's demand curve.