Which Statement Is Accurate in Its Description of Consumer Protection

question 1

Multiple Choice

Which statement is accurate in its description of consumer protection? ​

• A) The Consumer Product Safety Commission has the power to order recalls, public warnings, and refunds.
• B) Statistics show that, in fact, safety regulations rarely succeed in increasing safety.
• C) Critics exaggerate the cost of safety regulations and product recalls.
• D) Safety regulations permit people to choose to save money by purchasing riskier (but less expensive) products.

Learn about civil penalties associated with hiring unauthorized foreign workers.

Analyze the requirements for a sexual harassment claim based on workplace conduct and the subjective experiences of the employees.

Understand the interplay between state and federal laws in regulating employment benefits and anti-discrimination protections.

Understand the concept of trade discount and calculate the net price and trade discount amount.

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Definitions:

Political Corruption

The misuse of public power or position for personal gain, undermining the integrity and fairness of political processes.

Public Choice Theory

The economic analysis of government decision making, politics, and elections.

Government Failure

A situation where government intervention in the economy creates inefficiencies and leads to a misallocation of resources.

Unfunded Liability

Obligations or debts for which sufficient funds have not been set aside, particularly relevant in the context of pensions and benefits.