A function of the Federal Trade Commission is to:
A. investigate instances of faulty and misleading advertising.
B. establish railway rates for interstate railroads.
C. ban or recall unsafe consumer products.
D. prevent insider trading in securities markets.
Answer: A
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As in the United States, an important factor in the banking crises in Norway, Sweden, and Finland was the
A) financial liberalization that occurred in the 1980s. B) decline in real interest rates that occurred in the 1980s. C) high inflation that occurred in the 1980s. D) sluggish economic growth that occurred in the 1980s.
Consider the market for bicycles. If a dealer cuts prices by 10 percent and sells 20 percent more bikes, then demand for bicycles is:
a. inelastic, and total revenue will increase. b. elastic, and total revenue will increase. c. inelastic, and total revenue will decrease. d. elastic, and total revenue will decrease. e. unit elastic, and total revenue will remain the same.