The purpose of advertising is to shift the firm's demand to the right
Indicate whether the statement is true or false
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In agriculture, where firms producing similar goods are often located near each other, supervision of neighboring firm activity is fairly easy. When these firms come together formally to agree on price and restraint of output, their organization is called a(n)
a. collusive venture b. cartel c. cooperative d. agricultural merger e. conglomerate
Goods for which demand increases as income decreases are called
A. substitute goods. B. complementary goods. C. inferior goods. D. normal goods.
Under the Bretton Woods system, the United States was designated as the
A) reserve-currency country. B) fixed-rate country. C) par-standard country. D) dollar-standard country.
Which of the following is true of the U.S. government?
a. The government in the United States takes the form of a single-party state where opposition parties are not legally allowed to take power. b. The size of the federal government in the U.S. has been declining since 1930. c. Employment in the government sector currently exceeds employment in the manufacturing sector. d. The U.S. federal government plays a much smaller role than state and local government due to states' rights. e. The service sector of the U.S. economy employs more number of people than the U.S. government.