List and describe the two government agencies that enforce antitrust laws in the United States
What will be an ideal response?
The Federal Trade Commission (FTC) was created by Congress in 1914 . It is composed of five members appointed by the president and confirmed by the Senate for terms of seven years. The FTC can issue cease-and-desist orders, but these orders carry no criminal or civil penalties for past damages. In essence, the FTC exists to prevent further illegal action from occurring. The Antitrust Division (of the Department of Justice) initiates actions against those who violate antitrust law. It decides which cases to prosecute and against whom to bring criminal charges.
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A factor of production is the same as:
a. the amount of a good produced. b. the price of a good. c. a profit of a firm. d. an opportunity cost. e. a resource.
Identify the immediate effect of each of the following events on U.S. GDP and its components
a. James receives a Social Security check. b. John buys an Italian sports car. c. Henry buys domestically produced tools for his construction company.