Jaime has just researched and purchased a book through the Internet as a result of responding directly to a ad on Facebook. The Facebook ad is an example of
A) mass marketing.
B) direct marketing.
C) indirect marketing.
D) interactive marketing.
Answer: D
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The marginal revenue product of a resource:
a. is defined as the marginal product of the resource multiplied by the resource price. b. simply means that a firm should add to its capital stock as long as competition requires it. c. equals the extra output produced by an additional unit of the resource multiplied by the price of that output. d. equals the average product of the resource multiplied by the cost of hiring an additional (marginal) unit of the resource.
When comparing the Keynesian and monetarist approaches, the only substantive difference is that
a. the Keynesian equation leads to a prediction of real GDP; the monetarist equation leads to a prediction of nominal GDP. b. Keynesians concentrate on aggregate demand and monetarists concentrate on aggregate supply. c. Keynesians approach aggregate demand by multiplying the money supply by velocity, while monetarists use the equilibrium conditions of the expenditure schedule. d. Keynesian analysis suggests that money affects consumption first while monetarist analysis suggests that money affects investment spending first.
When a nation's institutional environment is more favorable, it will
a. attract more physical investment. b. encourage individuals to invest more heavily in human capital. c. encourage the development and efficient use of natural resources. d. all of the above.
The inputs into production of goods and services that are provided by nature, such as land, rivers, and mineral deposits are called
a. physical capital. b. natural resources. c. human capital. d. technological knowledge.