The Federal Trade Commission Act, as amended, prohibits
A. price-fixing agreements.
B. price discrimination.
C. horizontal mergers.
D. unfair competitive practices and deceptive acts.
Answer: D
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Is there evidence that an increase in per capita income stimulates population growth?
What will be an ideal response?
The original comparative advantage model that used the relative abundance of factors of production to explain comparative advantage assumed that countries:
a. employed all four factors of production; land, labor, capital, and entrepreneurship. b. employed only two factors of production; labor and capital. c. employed only two factors of production; land and entrepreneurial ability. d. worked with a fixed capital stock. e. were free to vary their employment of only one factor of production; labor.
Why do nations often impose trade barriers that make it difficult for their own citizens to trade with people in another country?
What will be an ideal response?
What are “four-firm” concentration ratios? How do economists use them to define monopolistically competitive industries and oligopolistic industries?
What will be an ideal response?