Icy Treats is a large Italian ice dessert chain with franchises located throughout the United States. Icy Treats' advertising will likely focus on which of the following?
A) promoting Icy Treats locations in a specific state
B) promoting a struggling Icy Treats location in Memphis, Tennessee
C) promoting a successful Icy Treats location in Memphis, Tennessee
D) promoting the enjoyment of eating Icy Treats' icees
D) promoting the enjoyment of eating Icy Treats' icees
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The marginal tax rate shows
A) the percentage of income which a typical family pays in tax. B) the average rate of taxation in the economy. C) the deductions which are permitted for child care and medical expenses. D) the extra tax due on an extra dollar of income.
The short-run aggregate supply curve is horizontal if
A) resources were fully utilized. B) there are unutilized resources in the economy. C) resources are perfectly adaptable between production processes. D) there are high inflation rates.
According to the kinked demand curve model, an oligopolist may face
a. more elastic demand than a monopolistic competitor. b. less elastic demand than a monopolistic competitor. c. more elastic demand if she raises her price than if she lowers her price. d. less elastic demand if she raises her price than if she lowers her price.
Movement of the fast-growing Asian nations through the demographic transition may have had an impact on growth rates because it
A) reduced expenditures on health care. B) reduced expenditures on pensions. C) increased savings. D) increased consumption relative to GDP.