Which of the Following Statements Is Not True About the Organization

question 43

Multiple Choice

Which of the following statements is not true about the organization Consumers Union (the publisher of Consumer Reports magazine) ?

• A) It is involved in activities promoting the interests of consumers.
• B) It conducts extensive tests on selected consumer products and services.
• C) It is supported by the federal government.
• D) It publishes the results of tests, with ratings on brand-name basis, in its magazine.

---

Definitions:

General Equilibrium

A state in which all parts of the economy (supply, demand, prices) are in balance and all markets are at equilibrium.

Market Equilibrium

A situation in which market supply and demand balance each other, and as a result, prices become stable.

Pareto Optimality

A state of allocation of resources in which it is impossible to make any one individual better off without making at least one individual worse off.

Partial Equilibrium

An analysis in economics focusing on the equilibrium of a specific sector or market without considering the whole economy.