Once the Federal Trade Commission's (FTC) Bureau of Consumer Protection investigators have decided that a company's advertising is illegal, it can do all of the following except which one?
A) prevent the company from selling its product
B) attempt to convince the company to cease its advertising
C) attempt to convince the company to change its advertising
D) issue a cease -and-desist order
A) prevent the company from selling its product
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Answer the following statements true (T) or false (F)
1. The GDP counts durable goods only during their year of production. 2. In national income accounting, machine depreciation is treated as a cost of production, but damage to a region’s air quality is not. 3. The GDP is reported on a monthly basis by the Department of Commerce. 4. An increase in the price level adds to the value of the nominal GDP but not to the real GDP. 5. An increase in business inventories would be included in the investment component of GDP. 6. GDP overstates national income because it does not make any adjustment for national debt. 7. Most national wealth in the United States is held in the private sector.
The following data show the relationship between the number of drivers who leave for work at 8 a.m., their average commute time, and their marginal benefit of commuting.Number of DriversWho Leave at 8 a.m.AverageCommute TimeMarginalBenefit10030 minutes$1020065 minutes$8300110 minutes$4400170 minutes$3500260 minutes$1 If there is no charge to use the highway, then one would expect that ________ than the socially optimal number of drivers will leave at 8 a.m. because ________.
A. less; each driver's use of the highway imposes an external cost on other drivers by increasing the commute time B. more; each driver's use of the highway imposes an external cost on other drivers by increasing the commute time C. more; the social marginal benefit of using the highway is greater than the private marginal benefit D. less; the private marginal benefit of using the highway is greater than the social marginal benefit
Exhibit 12-3 Unemployment categories CategoryWorkers Frictional unemployment250 Structural unemployment350 Cyclical unemployment600 Discouraged workers400 Underemployment450 According to data in Exhibit 12-3 and assuming the total number of people working is 8,400, the unemployment rate is
A. 5 percent. B. 12.5 percent. C. 16 percent. D. 24 percent.
Because the federal government typically provides disaster relief to farmers, many farmers do not buy crop insurance even through it is federally subsidized. This illustrates:
A. the adverse selection problem. B. the moral hazard problem. C. the special interest effect. D. logrolling.