The network effect in the TV broadcasting industry results in
A) a positive market feedback between the number of advertisers and the size of TV audience.
B) a negative market feedback between the number of advertisers and the size of TV audience.
C) a positive market feedback between the number of advertisers and the number of TV channels.
D) a negative market feedback between the number of advertisers and the number of TV channels.
Answer: A) a positive market feedback between the number of advertisers and the size of TV audience.
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Countries with high rates of economic growth tend to have
A) a lower life expectancy at birth. B) low rates of technological advancement. C) a declining incidence of business cycle fluctuations. D) a labor force that is more productive.
In this graph, consumption is at the level of 2,500 when disposable income is
A. 0.
B. 1000.
C. 2000.
D. 3000.
Recall the Application about the opportunity cost of an entrepreneur to answer the following question(s).According to this Application, which of the following is currently a popular way to earn an income?
A. renting out your home through Airbnb B. selling your kidneys C. driving your car through Uber D. cleaning other people's homes
The consumer price index implicitly assumes that the demand curve for each good and service in the representative market basket is
A) positively sloped. B) negatively sloped. C) vertical. D) horizontal.