The Federal Trade Commission was created to study industry structures and behavior and identify anticompetitive practices.
Answer the following statement true (T) or false (F)
True
The Federal Trade Commission Act (1914) was created to fulfill the increasing antitrust responsibilities and to study industry structures and behavior so as to identify anticompetitive practices.
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Even if the City Council fixed high minimum taxi fares and gave licenses to operate to only a few cab owners, license holders would not earn large profits from operating taxis in the city because
A) people would drive their own cars. B) people would substitute buses for taxis. C) taxis are not a necessity of life. D) the cost of owning a license would eat up the potential profits from operating a taxi. E) the demand would fall as taxi fares rose.
Refer to Table 19-14. Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The GDP deflator for 2016 equals
A) 92.2. B) 102.6. C) 108.5. D) 109.1.
One problem with the absolute approach to poverty is that there is no agreement as to which goods and services to include in the definition
Indicate whether the statement is true or false
The velocity of money in circulation measures: a. the average length of time that people hold wealth
b. how fast aggregate spending will increase for a given decline in money demand. c. how fast inflation will rise for a given increase in the money supply. d. how quickly money changes hands. e. how quickly banks can create money.