The president appoints the commissioners of the Federal Trade Commission for four-year terms. The President chooses one Commissioner to act as Chairman. 11. There is no control over price by firms in: One major barrier to entry under pure monopoly arises from: With a natural monopoly, the fair return price: What is the meaning of the phrase "dilemma of regulation"? Other things equal, the interest rate on a loan will be larger: Other things equal, the interest rate on a loan will be smaller: The pure rate of interest is best approximated by the: It will be most likely that an industry would borrow funds to expand capital facilities when the: If you pay $10,625 annually on a $125,000 loan and the rate of inflation is 3 percent, then the: Which one of the following acts declared "Every contract, combination ... or conspiracy, in restraint of trade or commerce among the several states ... to be illegal"? The exception to this rule is when companies. The Bureau of Consumer Protection may allege that an individual or company has violated Section 5 of the Federal Trade Commission Act, which prohibits unfair or deceptive acts or practices. The Sherman Antitrust Act of 1890 had proven inadequate in limiting trusts, and the widespread misuse of economic power by companies became so problematic that it became a significant factor in the election of Woodrow Wilson to the White House in 1912. A function of the Federal Trade Commission is to: The government was successful in gaining an antitrust conviction in the: Which of the following laws prohibited mergers by stock acquisition if the effect was to lessen competition? In which of the following cases did the final court decision result in a breakup of the firm into competing businesses? 15. Most cases brought by the Bureau of Consumer Protection are settled using ______.

When the total product curve is falling, the: There would be a unique product for which there are few close substitutes under which market model? Under a cease and desist order issued by the Bureau of Consumer Protection, a party consents to sign an order which restrains the promotional activity deemed offensive. ... by promoting transparency, the government can improve. 24. Federal Trade Commission What is the main function of the bureaucracy? Each Commissioner serves for a seven-year term. 6. If monopolistically competitive firms in an industry are making an economic profit, then: Refer to the above graph of a representative firm in monopolistic competition. 13. The main difference between the short run and the long run is that: Diminishing returns are observed as a firm increases production by adding variable inputs to at least one fixed input because: 3. It's an independent agency within the Executive branch of the federal government, although it also reports on its activities to Congress, the Legislative branch. 16. The regulatory center for federal consumer protection is the ______. Choose from 116 different sets of term:federal trade commission = 0 flashcards on Quizlet. The Federal Trade Commission is the primary federal agency that protects consumers. The basic penalty for trade practice violations under the Federal Trade Commission Act is a civil fine of not more than ______. The firm should borrow funds and purchase this machine if it can negotiate an annual interest rate on the loan between: A decline in the interest rate is likely to: Suppose many businesses want to increase their stock of capital goods and decide to borrow funds to do it. 2.

Diagrams. B. establish railway rates for interstate railroads.

When Congress passes a law, it sets down guidelines to carry out the new policies. The Federal Trade Commission advises firms that request advice as to whether a proposed practice is unfair or deceptive. Which would be the likely result of this event? Economists would not consider which one of the following to be a productive economic resource? The Federal Trade Commission is charged with eliminating competition to protect consumers.

2.

The familiar telemarketing sales rule that established the national "Do Not Call" list is an example of a(n) ______. Learn term:federal trade commission = 0 with free interactive flashcards. The goal of product differentiation and advertising in monopolistic competition is to make: In a monopolisitically competitive industry, the four-firm concentration ratio would be: 13. The Commission, which is known as the FTC, was created in 1914 and is part of the federal government. A. may allow for private lawsuits in addition to government enforcement, which is an option not available under the Federal Trade Commission Act. B. looks at both implied and express claims. E. The FTC Act states that in the case of a violation through continuing failure to obey an order, each day the violation continues is a separate offense. What is a major reason for growing income inequality in the United States? D. prevent insider trading in securities markets. 22. In this scenario, which of the following remedies is used by the FTC? 7. C. ban or recall unsafe consumer products. Its job is to make sure companies compete fairly and don't mislead or trick people about their products and services. A function of the Federal Trade Commission is to: A. investigate instances of faulty and misleading advertising. It's run by five Commissioners, nominated by the President and confirmed by Congress. which of these names a function of the Federal Trade Commission. A. One of its new products, the Slipstream tire, is advertised to be 20 percent stronger than that of its competitors due to a new rubber compound used that makes the tires skid resistant. Which of the following gave the Federal Trade Commission responsibility to protect the public against false and misleading advertising? 5. D. prevent insider trading in securities markets. The federal bureaucracy performs three primary tasks in government: implementation, administration, and regulation. Section 5 of the ______ prohibits unfair or deceptive acts or business practices. In the Microsoft antitrust case, the Federal government said in essence that: A merger between an automobile manufacturer and a maker of automobile tires is an example of a: A merger of several firms operating in different industries-for example, a trucking company, a fast-food chain, and a brokerage house-is called: The largest efficiency gains from deregulation have occurred in the: Social, as distinct from industrial, regulation is the major focus of the: The primary purpose of Social Security is to: Which is a cause of growing income inequality in the United States in the last decade? market efficiency. ensure competition. It's an independent agency within the Executive branch of the federal government, although it also reports on its activities to Congress, the Legislative branch. Other things being equal, the elasticity of demand for labor will be greater the: A profit-maximizing firm should hire an input as long as the: Marginal revenue product is the increase in: An example of derived demand is the demand for: Which would be an explanation for the high level of productivity in the United States? After receiving complaints of fraud, the Federal Trade Commission (FTC) determines that the tire is made from rubber similar to that found in most bicycle tires and is not skid resistant. 21. ECNAL Corp. manufactures bicycle parts.

the sherman act, clayton act, and federal trade commission act were all designed to.

The Federal Trade Commission (FTC) was established as an independent administrative agency pursuant to the Federal Trade Commission Act of 1914. 14. The Federal Trade Commission is the primary federal agency that protects consumers. No more than three Commissioners can be of the same political party. 8. The Magnuson-Moss Warranty Act requires the Federal Trade Commission to issue rules regarding warranties for consumer products. To obtain civil fines, either the Federal Trade Commission (FTC) or the Justice Department must ask the federal court to assess them. A firm in a purely competitive product market finds it must increase wages to attract extra workers.

The main purpose of the Federal Trade Commission is to find violators and punish them. 19. 23. What does line 4 represent? C.ban or recall unsafe consumer products. If a firm buys a new computer system that costs $12,000 a year it can reduce the firm's cost by $900 a year. ______ ensures fair competition by preventing those who would deceive consumers from diverting trade from those who compete honestly.

E. agree to fines as part of a consent order. The Commission, which is known as the FTC, was created in 1914 and is part of the federal government. 10. Which statement applies to the Social Security system? Marie is an unmarried woman with a well-paid job. The … If she applies for credit solely at a bank in her own name, the bank is legally allowed to assign negative values on a credit checklist because of the fact that she is unmarried. the nation's consumer protection agency and one of the government agencies responsible for keeping competition among businesses strong. 1. 20.

It permits the interception of broadcast radio communications.

Once Wilson assumed the office of the Presidency, he followed through on his campaign promises to address the ex…