Those who support advertising claim that viewing a product as frivolous is ______.
a. productive
b. accurate
c. subjective
d. objective
c. subjective
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Refer to the figure above. The region ABC shows the ________ due to the price ceiling
A) gain in consumer surplus B) gain in producer surplus C) deadweight loss D) economic loss
What did the growing inequality of income during the 1920s indicate?
(a) That consumption expenditures would tend to weaken even though total income continued to rise (b) That spending for goods and business incentives to produce those goods became increasingly dependent on the wealthy (c) That the economy became more vulnerable to any shock, such as a stock market crash, that reduced the willingness of the wealthy to buy goods (d) All of the above
A budget deficit is best defined as the
a. shortage of spending power created by a government spending cut. b. shortage of spending power created by a tax increase. c. accumulation of past debt that has not been covered by taxes. d. amount by which a government's expenditures exceed receipts during a specific time period.
Which of the following would be a consequence of the retirement of the internally held portion of the public debt?
A. A reduction in the nation's productive capacity B. A reduction in the nation's standard of living C. A redistribution of the nation's wealth among its citizens D. An increase in aggregate expenditures in the economy