Each of the following has been a job of the Federal Trade Commission except
A. being a watchdog against the anticompetitive practices outlawed by the Sherman and Clayton Acts.
B. preventing false and deceptive advertising.
C. approving and disapproving corporate mergers.
D. ensuring that the Sherman Act is not used against labor unions.
D. ensuring that the Sherman Act is not used against labor unions.
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Given the information in the table above, Home's opportunity cost of cloth is
A) 0.5. B) 2.0. C) 6.0. D) 1.5. E) 3.0.
Compared to an open economy without a tariff, the amount of imported sugar will drop from ________ tons to ________ tons after the tariff is imposed.
A. 60; 30 B. 40; 20 C. 80; 40 D. 20; 10
In economics, the term "marginal" refers to
A) total. B) a change in the total. C) average change. D) inverse.
Refer to the above figure. If government sets the maximum legal price of gasoline at $2 per gallon, then the $2 limit acts as
A. an equilibrium price. B. a just price. C. a price floor. D. a price ceiling.