What was the Federal Trade Commission (FTC), established in 1914, created to enforce?
(a) U.S. foreign trade
(b) The maritime code
(c) The Interstate Commerce Act
(d) The antitrust laws
(d)
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Which of the following should help reduce the adverse selection problem?
A) the employer mandate provision of the Affordable Care Act B) the individual mandate provision of the Affordable Care Act C) keeping high-risk and low-risk individuals in the same health insurance pool D) all of the above
The typical family on the Planet Econ consumes 10 pizzas, 7 pairs of jeans, and 20 gallons of milk. In 2016, pizzas cost $10 each, jeans cost $40 per pair, and milk cost $3 per gallon. In 2017, the price of pizzas increased to $14 each, while the price of jeans and milk remained the same. Between 2016 and 2017, a typical family's cost of living:
A. remained the same. B. increased by 9 percent. C. decreased by 9 percent. D. increased by 40 percent.
Supply curves slope upward because:
A. the quality is assumed to vary with price. B. technology improves over time, increasing the ability of firms to produce more at each possible price. C. increases in the price of a good lead to rightward shifts of the supply curve. D. rising prices provide producers with the incentives needed to increase the quantity supplied.
In which quarter of which year did the prosperity phase of the business cycle begin?
