Economic growth as it is currently measured
A. does not account for how increased per capita income is distributed across income groups.
B. understates actual economic growth since it does not adjust for changes in leisure.
C. does not consider? spiritual, cultural or social difficulties that may arise from growth.
D. All of the above.
Answer: D. All of the above.
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Firms use two marketing tools to differentiate their products. What are these two tools?
A) market research and demand estimation B) brand management and advertising C) lobbying and word of mouth D) consumer surveys and market experiments
Medicare
A) subsidizes the care of older people, which gives them NO incentive to consume more medical services. B) subsidizes the care of older people, which gives them an incentive to consume more medical services. C) subsidizes the care of young people, which gives them an incentive to consume less medical services. D) subsidizes the care of middle aged people, which gives them an incentive to consume more medical services.
One of the limitation of Five Forces is that
a. These tools reduce producer surplus b. For one firm to increase profit, it takes it from other participants in the industry c. Does not provide a firm with sustainable competitive advantage d. Both b and c
Define the marginal tax rate