Empirical evidence suggests that advertising usually leads to an increase in the price for advertised products
a. True
b. False
Indicate whether the statement is true or false
False
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An example of a monopoly is
A) a big city restaurant. B) the stock market. C) the only veterinarian in an isolated farm community. D) a large hospital in a big city.
Refer to Table 9-1. The unemployment rate for this simple economy equals
A) (100/1,100 ) × 100. B) (100/20,000 ) × 100. C) (100/15,000 ) × 100. D) (100/1,000 ) × 100.
Time inconsistency is a problem when policymakers
a. have no flexibility in setting policy. b. follow inflexible rules. c. have discretion in their policy responses to changes in economic conditions. d. does not follow the Taylor rule. e. none of the above.
Labor unions create a rent when they succeed. This rent forces employers or management to return some of their profits to unionized workers in the form of improved working conditions, health benefits or increased wages
Indicate whether the statement is true or false