The primary claim of defenders of advertising is that it
a. conveys information about firm profitability.
b. is psychological rather than informational.
c. enhances the information available to consumers.
d. reduces the elasticity of demand for a firm's product.
c
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The Great Recession that started in 2007 was triggered by shocks in which of the following economic sectors?
A. consumer and government spending B. real estate and financial markets C. international trade and foreign exchange markets D. gold market and stock market
Why are generic pharmaceuticals significantly cheaper than name brand ones?
A.Generic pharmaceuticals are not protected by patent law, B.Brand name pharmaceuticals are not protected by patent law, C.The government allows knockoffs of patent-protected medicines in some cases. D.Generic pharmaceuticals are made by foreign companies that have lower costs.
In the fooling model's labor market diagram, from an initial intersection point of the labor supply and demand curves, tracing "northwest" up the labor demand curve shows
A) what happens to real wages and employment when aggregate demand expands. B) what happens to real wages and employment when aggregate demand contracts. C) what workers think is happening to real wages if an aggregate demand expansion fools them. D) what firms think is happening to real wages if an aggregate demand contraction fools them.
Refer to Table 5.1. A risk-averse student making a decision solely on the basis of the above information
A) would definitely become a math major. B) would definitely not become an English major. C) would definitely become a political science major. D) might be either a mathematics major or English major, depending upon the utility of the average offer. E) would definitely be indifferent between the accounting major and the English major if the probability of finding a job in accounting were any value higher than 0.95.