Having a well-known brand name associated with high quality is
A. can take a long time to establish.
B. is a value to consumers.
C. can be costly to maintain.
D. All of these statements are true.
Answer: D
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The theory of consumer choice most closely examines which of the following Ten Principles of Economics?
a. People face trade-offs. b. Governments can sometimes improve market outcomes. c. Trade can make everyone better off. d. Markets are usually a good way to organize economic activity.
Economists Fryer and Loury argued that affirmative action
A. can increase minorities' prospective return on any investment in their own education. B. necessarily undermines minorities' incentive to invest in their own education. C. is the reason so many white males are passed over for promotion in favor of minorities. D. "color-blind" proxies for race easily achieve diversity without reference to race itself.
Gross investment minus depreciation is equal to:
A. gross domestic product. B. net investment. C. personal investment. D. nominal investment.
Milton Friedman's assertion that "inflation is a monetary phenomenon" is based on:
A. the assumption of constant nominal GDP growth. B. the assumption that the price level grows at the same rate as real GDP. C. the quantity theory of money. D. the assumption that the central bank increases the money supply by a constant rate every year.