The federal budget
A) is required to balance by law.
B) can have a surplus but not a deficit.
C) can have a deficit but not a surplus.
D) can have a deficit or a surplus but cannot be balanced.
E) can have a deficit, a surplus, or a balance.
E
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The Federal Trade Commission (FTC) Act
A) prohibited charging buyers different prices if the result would reduce competition. B) gave the FTC full power to regulate mergers. C) closed the loopholes in the Sherman and Clayton Acts. D) divided authority to police mergers between the FTC and the Department of Justice.
Which statement about oligopoly is false?
A. Monopolistic firms recognize their interdependence B. Prices in oligopoly are predicted to fluctuate widely and frequently C. A few firms play an important role in the sale of a product D. One firm's behavior is a function of what its rivals do