What was the importance of the Federal Trade Commission Act of 1914?
What will be an ideal response?
The act set up an independent government agency to investigate and to enforce antitrust laws and the provisions of the Clayton Act. The act also broadened the range of illegal business practices that could be regulated. For example, the commission could hold hearings on unfair methods of competition and also issue “cease-and-desist orders” when business practices were deemed unfair for commerce. The Wheeler-Lea Act of 1938 extended FTC power by giving the commission the authority to protect the public against deceptive or misleading advertising.
You might also like to view...
Refer to Figure 4.1. Suppose Alvin chooses Top, while Simon chooses Down, and Theodore chooses Left. Theodore's payoff will be
A) 4. B) 6. C) 14. D) 24.
According to the assumptions of the quantity theory of money, if the money supply increases 5 percent, then
a. both the price level and real GDP would rise by 5 percent. b. the price level would rise by 5 percent and real GDP would be unchanged. c. the price level would be unchanged and real GDP would rise by 5 percent. d. both the price level and real GDP would be unchanged.
In Figure 6.6 if price is P3, then the industry will:
A. expand. B. contract. C. stay the same size. D. cease to exist.
Amber has opened a coffee shop for many years on a piece of land that she has also owned. She has also made accounting profits from the coffee shop
This year, rents in the area rose considerably, and Amber responded by deciding to sell the land and the coffee shop to an apartment builder. How can you explain Amber's decision to sell her business?