Which of the following statements regarding brand names in advertising is not correct?
a. Brand names provide consumers with information about quality when quality cannot be easily judged in advance of purchase.
b. Brand names give firms an incentive to maintain high quality to maintain the reputation of the firm.
c. Brand names allow firms to produce and sell inferior products in the long run since people will continue to purchase the brand-name product.
d. Brand names can cause consumers to perceive differences in products that do not actually exist.
c
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The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
How has China operated in the foreign exchange market, why, and with what effect?
What will be an ideal response?
An example of price discrimination is the price charged for:
a. theater tickets that offer lower prices for children. b. gasoline. c. an economics textbook at a campus bookstore. d. a postage stamp.
When the U.S. dollar appreciates compared to the British pound, this means that ______.
a. a U.S. dollar can buy fewer units of British pounds than before b. the U.S. dollar declines in value compared to the British pound c. a U.S. dollar can buy more units of British pounds than before d. the British pound appreciates compared to the U.S. dollar