This agency is responsible for preventing businesses from engaging in misleading advertising, unfair trade practices, and monopolistic actions, as well as for protecting consumer rights

The average number of times that a dollar is spent in buying the total amount of final goods and services produced during a given time period is known as

A) gross national product. B) the spending multiplier. C) the money multiplier. D) velocity.

In contrast with perfect competition, excess capacity characterizes monopolistic competition. Excess capacity is due to which of the following?

A) Monopolistically competitive firms produce at the minimum point on their average total cost curves. B) Monopolistically competitive firms face downward-sloping demand curves. In the long run, firms produce where their demand curves are tangent to their long-run average total cost curves. C) Monopolistically competitive firms produce where marginal revenue is equal to marginal cost. D) Monopolistically competitive markets have low barriers to entry.