Which of the Following Is a False Statement Regarding the Consumer

question 5

Multiple Choice

Which of the following is a false statement regarding the Consumer Product Safety Commission?

• A)It enforces mandatory standards regarding product safety.
• B)It has no authority to require a recall of products.
• C)It conducts research regarding potentially hazardous products.
• D)It educates consumers about product safety.
• E)It can ban consumer products from the market.

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Definitions:

Import Demand

The quantity of goods or services that domestic consumers or firms are willing to purchase from abroad at various prices.

Export Supply

The quantity of goods or services available from a country for sale to other countries, directly related to national production capacities and international demand.

Protective Tariff

A tax imposed on imported goods to protect domestic industries from foreign competition by making the imported goods more expensive.

Tariff

A tax imposed by a government on goods and services imported from other countries.