Firms use advertising to
a. standardize their products
b. differentiate their products
c. decrease market prices
d. reduce total cost
e. avoid antitrust penalties
B
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Suppose there are two economies that are identical in every way with the following exception. Economy A has an unemployment compensation system while economy B does NOT have an unemployment compensation system
Now suppose both economies experience the same drop in planned investment. Which of the following is correct? A) Real GDP will fall more in economy A than in economy B. B) Real GDP will fall more in economy B than in economy A. C) Real GDP will fall the same in both economies. D) The effect on the relative size of the reduction in real GDP in the two economies is ambiguous.
A Gini coefficient is a measure of
a. age dispersion b. the ratio of income to wealth c. social security d. the ratio of government spending to GDP e. income distribution
A political leader suggesting that an economic downturn will be cushioned automatically is referring to the automatic actions resulting from
A. interest rates and tax rates. B. tax policy and spending policy. C. a progressive income tax and a welfare state. D. interest rates and the money supply.
The severe recession of 2008-2009 was precipitated by:
What will be an ideal response?