By Adding Labels on Spray Cans Indicating That the Contents

question 30

Multiple Choice

By adding labels on spray cans indicating that the contents are flammable and instructions on how to use it correctly,which consumer right is being met?

• A)Right to fair treatment
• B)Right to safe products
• C)Right to be heard
• D)Right to choose
• E)No consumer right is being satisfied.

Grasp the concept of the circular-flow diagram and its components.

Recognize the significance of the production possibilities frontier (PPF) and its implications.

Comprehend the assumptions made when constructing economic models.

Learn about the effects of technological advances on production possibilities.

---

Definitions:

Full Employment GDP

The output level produced by the economy when all available resources are efficiently employed, representing potential GDP under full employment.

Multiplier

In economics, a factor that quantifies the impact of spending changes in an economy, particularly the increase in income or economic activity resulting from an injection of spending.

Deflationary Gap

A situation where aggregate demand is less than the total supply of goods and services, leading to deflation and unemployment.

Equilibrium GDP

The level of Gross Domestic Product at which aggregate supply equals aggregate demand, indicating a stable economy.