List three reasons why the demand for a product will often increase if the product is endorsed by a celebrity
What will be an ideal response?
1. Consumers may believe that the celebrity is particularly knowledgeable about the product.
2. Buying the product may make people feel closer to the celebrity.
3. Buying the product may make people feel fashionable.
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The calculation of the final goods and services sold in an economy would NOT include
A) the purchase of a lawnmower by a household. B) General Motors' purchases of tires for new automobiles. C) Ford Motor Company's purchase of a new industrial robot to be used to produce cars. D) the purchase of a service by a household.
Checks ________ money and checking deposits ________ money
A) are; are B) are; are not C) are not; are D) are not; are not
Who is recognized as the founder of public choice theory?
a. James Buchanan. b. Steve Forbes. c. Joseph Pechman. d. Adam Smith.
The most numerous form of business organization in the United States is
a. the partnership b. the multinational c. the corporation d. the sole proprietorship e. none; all business organizations are equally numerous