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FEDERAL TRADE COMMISSION: An independent federal agency run by a 5-member commission that's charged by Congress with preventing unfair and deceptive business activities and other various monopoly practices that tend to inhibit competition. The FTC was set up in 1914 to help the Justice Department enforce a growing number of antitrust laws. It has the authority to restrict assorted market monopolizing practices, such as mergers, false or misleading advertising, price discrimination, and price fixing. Since the time of it's formation, the FTC has grown into an important consumer protection agency.
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CONSUMER ADVISORY COUNCIL A support committee of the Federal Reserve System that provides advice and input to the Federal Reserve Board of Governors on matters dealing with consumer credit. The Federal Advisory Council (FAC) is comprised of 30 members, representing a broad spectrum of consumer related interests. The CAC is one of three Federal Reserve Board advisory committees. The other two are Federal Advisory Council and Thrift Institutions Advisory Council.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store seeking to buy either a T-shirt commemorating the 2000 Olympics or a genuine fake plastic Tiffany lamp. Be on the lookout for high interest rates.
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This isn't me! What am I?
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"It has been my philosophy of life that difficulties vanish when faced boldly. " -- Isaac Asimov
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MFC
Marginal Factor Cost
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