Which of the following is NOT a consumer protection right?
a. right to return products without restriction (right of return act)
b. protection against misleading advertisements (truth in advertising laws)
c. fair and clear lending practices (truth in lending act)
d. purchased items will work properly (warranty protections)
Ans: a. right to return products without restriction (right of return act)
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The real interest rate is equal to the
A) nominal interest rate plus the inflation rate. B) nominal interest rate minus the inflation rate. C) nominal interest rate times the inflation rate. D) nominal interest rate divided by the inflation rate. E) inflation rate minus the nominal interest rate.
Everything else held constant, aggregate demand increases when
A) taxes are cut. B) government spending is reduced. C) animal spirits decrease. D) the money supply is reduced.
The Lerner Index is preferred to the Herfindahl-Hirschman Index as a measure of market power due to the former's simplicity and straightforward interpretation
Indicate whether the statement is true or false
The Federal Open Market Committee directive is a
A) general statement of Federal Reserve policy goals. B) detailed description of government security purchases to be carried out by the New York Federal Reserve bank. C) statement specifying the maximum level of inflation the Federal Reserve will accept. D) statement specifying the maximum level of unemployment the Federal Reserve will accept.