Since people generally know that celebrities are paid to endorse products, celebrity endorsements signal to consumers that:
A. the celebrity loves the product.
B. the product is appealing.
C. only rich people can afford the product.
D. All of these
Answer: B
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An important factor in determining a country's rate of economic growth is
A) the diversity of its population. B) its rate of saving. C) the size of its labor force. D) the proportion of the adult population that is working.
An illegal grouping of companies that discourages competition:
a. economies of scale b. trust c. perfect competition d. oligopoly e. price war
The term "other things equal" means that:
A. the associated statement is normative. B. many variables affect the variable under consideration. C. a number of relevant variables are assumed to be constant. D. when variable X increases so does related variable Y.
A government report that makes working in a particular industry less attractive to workers will most likely ________ the number of workers hired in that industry, and ________ the wage paid to those workers.
A. increase; increase B. increase; decrease C. decrease; increase D. decrease; decrease