A firm could differentiate its product by all of the following means except one. Which is the exception?
a. making the product available at a number of different locations
b. increasing the number of services that accompany the product
c. making the product physically different from other products
d. using packaging or advertising to create a special subjective image of the product in the consumer's mind
e. emphasizing that the product provides the same benefits to consumers as the others on the market, even when it is really physically different
E
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The economic functions of government differ from the political functions of government in that
A) the economic functions are carried out by the federal government, while the political functions are carried out by state and local governments. B) the economic functions include policies that affect income redistribution, while the political functions involve things that affect the way exchange is carried out. C) the economic functions involve things that affect the way exchange is carried out while the political functions include policies that affect income redistribution. D) the economic functions are carried out by state and local governments, while the political functions are carried out by the federal government.
Given the following data, what is the distance from the origin to the point where the total expenditures (TE) curve cuts the vertical axis? C = $800 + 0.85Yd I = $350 G = $420
A) $1,570 B) $1,150 C) $1,220 D) $770 E) ?$1,220.85
An index number is valuable because:
A. it does not require any calculations to compute percentage changes. B. the level of every index number itself provides critical information. C. it is more stable than the data it reflects. D. it provides a meaningful measurement scale to calculate percentage changes.
Firms seek to differentiate their product
A) to avoid state and federal regulation. B) to create an illusion of value. C) to strengthen their demand and to make it more inelastic. D) to strengthen their demand and to make it more elastic.