What Was the Purpose of the Wheeler-Lea Act (1938)

question 79

Multiple Choice

What was the purpose of the Wheeler-Lea Act (1938) ?

• A)It eliminated monopolies and guaranteed competition.
• B)It made deceptive and misleading advertising illegal.
• C)It guaranteed that product packages are labeled correctly.
• D)It banned unfair credit card rate increases.
• E)It established the Federal Trade Commission.

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Definitions:

Contra Account

An account that is used to offset another account on the balance sheet, such as accumulated depreciation for fixed assets.

Legal Liability

The responsibility imposed by law to compensate for or rectify any harm, loss, or damage one's actions or decisions have caused to others.

Sales Taxes

These are taxes imposed by governments on the sale of goods and services.

Sick Pay

Compensation paid by employers to employees during periods when they are unable to work due to illness.