Consumer Rights Quiz 5 - LifeSmarts

What is the main purpose of the federal Fair Housing Act?

• Promotes competitive rental prices.

• Ensures proper rental regulations.

• Prohibit housing discrimination.

• Promotes suburban housing.

Behavioral economics draws on economics and _____ to explore why people sometimes make irrational decisions.

• Intuition

• Analytical Thinking

• Positive Behaviors

• Psychology

How does comparison-shopping help you save money?

• Saves time in the store.

• Evaluates which seller has best product and price.

• Helps to find the highest prices.

• It reduces consumer advertising.

True or False: Each time you get paid and put $100 into a college savings account are engaging in delayed gratification.

• True

• False

True or False: An impulse purchase is when a decision is made without considering alternative options beforehand.

• True

• False

Which is not a consequence of impulse purchases?

• You spend more money.

• Guilt

• Wise Judgement

• Reinforcing bad habits.

In comparing standard of living with quality of life -- which is more quantifiable (numbers)?

• Standard of Living

• Quality of Life

• Both Standard of Living and Quality of Life

• Neither are quantifiable.

What is an economic want?

• Items necessary to survive.

• Both the items you desire and need to survive.

• Items you desire but that are not necessary to survive.

• Basic needs of food, shelter, and clothing.

Big mergers or acquisitions of companies are reviewed by which two federal agencies?

• Department of Labor and Court of International Trade

• FTC (Federal Trade Commission) and the Department of Justice

• Department of Justice and Bureau of Consumer Affairs

• Bureau of Economic Analysis and Department of Labor

What does the CARU investigative unit of the national BBB program do?

• Works with advisement criminals.

• Protects charitable organizations from fraud.

• Protects children from deceptive or inappropriate advertising.

• Investigates advertising propaganda.