The FTC Test of Substantiation Requires

question 67

Multiple Choice

The FTC test of substantiation requires:

• A)a comparison of marketing claims made by competing firms.
• B)the use of a code of ethics.
• C)data, facts, or competent and reliable evidence.
• D)testimony from an expert in the field.

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Definitions:

PQ Remains Same

A situation in economic terms where the price level (P) and quantity (Q) of goods and services in the market stay unchanged over a period.

Velocity V

Velocity V typically refers to the velocity of money, a measurement of the rate at which money is exchanged in an economy.

Percentage Fall

A measure that indicates the decrease in a value or quantity, expressed as a percentage of its previous value.

Full Employment

A situation in which all available labor resources are being used in the most economically efficient way.