A cease-and-desist order issued by the FTC is
a. not appealable to the courts
b. an order that a firm stop engaging in some activity
c. a warning that profits are too high in this business
d. an order that some activity meets with antitrust approval
e. an order that the business recall some of their products because of defects
B
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If the government imposes an effective ________, a deadweight loss ________
A) price floor; does not occur B) price ceiling; does not occur C) price ceiling; occurs D) price support; does not occur E) Both answers C and D are correct.
Institutions that accept deposits from individuals and organizations, against which depositors can write checks on demand for their market transactions and that use these deposits to make loans are called:
A) depository institutions. B) financial market institutions. C) insurance companies. D) none of the above.
Using the above figure. A rightward shift of the supply curve, ceteris paribus, would result in
A) dollar appreciation. B) euro appreciation. C) dollar depreciation. D) decreasing the equilibrium quantity of euros.
The excess supply created when governments impose a price floor is:
a. shrinking as the floor rises. b. the difference between the old quantity supplied and new quantity demanded. c. the difference between the new quantity supplied and the old quantity demanded. d. the difference between the new quantity supplied and the new quantity demanded. e. actually efficient because prices are higher for suppliers.