A financial services company may hire a professional athlete as a spokesperson because:
A. the athlete is more informed about financial services than the general public.
B. this can act as a credible signal to consumers that the company has a high quality product they are willing to spend money advertising.
C. does not serve as a credible signal to consumers, since athletes are not often financial service experts.
D. can signal to customers that the services are worse than they actually are.
B. this can act as a credible signal to consumers that the company has a high quality product they are willing to spend money advertising.
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If x causes y, then
a. x and y are inversely related b. y is a dependent variable c. other variables don't matter d. y must, in turn, cause x e. x and y are always in a direct relation to each other
Longitudinal data on income inequality in the United States indicates that: a. children of poor families stay poor, but children of rich families do not always stay rich
b. children of poor families often escape poverty, but rich families invariably retain their wealth over time. c. there is substantial movement among income groupings in the United States. d. the rich are getting richer and the poor are getting poorer.
If all the firms producing a good in an industry have market shares that are insignificant, that is, close to zero percent of industry sales,
a. they shut down, that is, go out of business in the long run b. their output levels are close to zero as well c. they are in a perfectly competitive market d. profit is at best zero because cost must be at least greater than zero e. they should advertise
Federal, state, and local taxes
A. have been falling as a share of GDP since the 1970s. B. have been increasing as a share of GDP since the 1970s. C. are about a quarter of GDP. D. are about one-third of GDP.