Products can be differentiated
A) if the buyers are homogeneous and their number increases.
B) by location and by brand name.
C) only by brand name.
D) none of the above.
Answer: B
You might also like to view...
All of the following took place during the Great Depression EXCEPT
A) increase in unemployment from about 3.4 percent to about 25 percent and a decrease in real GDP by about 30 percent between 1929 in 1933. B) an increase in taxes because of the fear that budget deficits would undermine business confidence. C) a fall in the money supply by more than 30 percent. D) a rise in inflation during the early 1930s. E) the stock market crashed by about one-third in October of 1929.
If a bank has actual reserves of $40,000 and a 20 percent reserve requirement, then the maximum amount of checkable deposits the bank can have if excess reserves are zero is:
a. $100,000. b. $80,000. c. $300,000. d. $20,000. e. $200,000.
Which of the following is an example of trade policy at the national level?
a. Congress passing legislation to prevent dumping. b. The European Union adopting a common currency c. The World Trade Organization holding a round of negotiations in France. d. The General Agreement on Tariffs and Trade being made.
Given freedom of movement for both goods and resources, if Florida producers specialize in oranges and Georgia producers specialize in peaches, then it would be reasonable to conclude that
a. the opportunity cost of growing oranges is higher in Florida than in Georgia. b. Georgia has a comparative advantage in producing peaches. c. Florida has a comparative advantage in producing peaches. d. total output will be expanded when Georgia allocates more resources to producing oranges and Florida allocates more resources to producing peaches.