One thing that both critics of advertising and defenders of advertising agree on is that advertising fosters competition
a. True
b. False
Indicate whether the statement is true or false
False
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When people expect that the future exchange rate will be lower, they ________ the supply of dollars and the current exchange rate ________
A) decrease; rises B) decrease; falls C) increase; falls D) increase; rises E) do not change; rises
Refer to Table 2-5. Finland has a comparative advantage in the production of
A) lumber. B) neither product. C) cell phones. D) both products.
When price was 5, quantity demanded was 10. When price increased to 6, quantity demanded decreased to 9. Therefore, when price increased, total revenue
A. decreased from 54 to 50, indicating that demand is inelastic. B. decreased from 54 to 50, indicating that demand is elastic. C. increased from 50 to 54, indicating that demand is inelastic. D. increased from 50 to 54, indicating that demand is elastic.
A disadvantage of sole proprietorships is:
a. getting a charter b. limited liability c. inability to maintain enough inventory d. ease in entering and leaving business