The regulatory agency most concerned with false advertising is the
A. Federal Trade Commission.
B. Federal Deposit Insurance Corp.
C. Antitrust Division of the Justice Department.
D. National Labor Relations Board.
Answer: A
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A production quota program:
A. imposes limits on the quantity that individual firms can produce. B. is a way to reduce prices without causing the overconsumption that occurs under a price support program. C. places limitations on the quantity that individual consumers can purchase. D. is like a subsidy in that it reduces the price that buyers pay for a good.
A dominant strategy is one:
A. that is the best one to follow, no matter what strategy other players choose. B. in which a player is forced to choose given the rules of the game. C. in which a player must choose, even though it does not optimize his outcome. D. provides a player with the highest payoff in the game.
If a worker receives a weekly nominal wage of $300 and the CPI is 125, the real wage is approximately
a. $210. Cc. $200. d. $300.
Changes in reserve requirements are made within legal limits by
a. the Federal Open Market Committee. b. Federal Reserve Banks. c. member banks of the Fed. d. the Board of Governors.