Critics of advertising argue that advertising
a. creates desires that otherwise might not exist.
b. enhances competition.
c. benefits television viewers who enjoy TV commercials.
d. All of the above are correct.
a
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The major characteristic of a monopoly is
a. the degree of control over price it can exercise. b. its ability to produce numerous products. c. its price elasticity of demand. d. its source of revenue.
The average product of a variable input is calculated as:
A) total product divided by total output. B) the change in total product divided by the change in the variable input. C) total product divided by the change in the variable input. D) total product divided by the total quantity of the variable input.
Which of the following contributed to the weak recovery from the 2008-2009 recession?
a. constant policy changes that generated uncertainty and undermined private investment b. the restrictive monetary policy followed by the Fed c. the tax increases instituted by a Congress intent on balancing the budget d. the inability of the federal government to borrow because of the sharply higher interest rates
Which of the following is correct if the interest rate is 6 percent?
a. $215 to be received a year from today has a present value of over $200; $420 a year from now has a present value over $400. b. $215 to be received a year from today has a present value of over $200; $420 a year from now has a present value under $400. c. $215 to be received a year from today has a present value of under $200; $420 a year from now has a present value over $400. d. $215 to be received a year from today has a present value of under $200; $420 a year from now has a present value under $400.