Typically a mix of informational and persuasive advertising is used for
A) experience goods.
B) credence goods.
C) credible goods.
D) search goods.
Answer: B
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There is an exchange rate between
A. every pair of currencies. B. the world’s major currencies but not between the currencies of less-developed countries. C. currencies on a fixed exchange rate system but not for those on a floating rate system. D. the currencies of the European Union but not for the nations outside the European Union.
Suppose that additional units of capital affect the marginal productivity of labor. This is not unrealistic. Word processors increase the marginal productivity of secretaries
On the other hand, robotic equipment can completely replace a worker and, thereby, lower the marginal productivity of labor. Given this possibility, determine the conditions under which isoquants will not be convex (i.e., concave).
Since the 1960s, the share of the labor force that is unionized in the United States has
A) increased except for the government sector. B) increased. C) declined. D) declined except in the private sector.
When an individual quits his job and decides to look for a new job immediately, the labor-force participation rate
A. stays the same. B. increases. C. decreases. D. may increase or decrease, depending on the length of time he/she stays at home.