The Four Basic Rights Outlined in the Consumer Bill of Rights

question 33

Multiple Choice

The four basic rights outlined in the Consumer Bill of Rights include the right to safety, the right to be heard, the right to

• A)inform, and the right be chosen.
• B)consumer education, and the right to honesty.
• C)choose, and the right to be informed.
• D)redress, and the right to choose.
• E)honesty, and the right to redress.

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Definitions:

Short Run

A period in economics where at least one factor of production is fixed, limiting the ability to increase output.

Aggregate Demand

Aggregate demand is the total demand for all goods and services within an economy at a given overall price level and within a given time period.

Aggregate Supply

The sum total of products and services that corporate entities in an economic environment plan to market over a fixed period.

Expected Price Level

The anticipated average price of goods and services in the economy over a future period.