Advertisers go to great lengths to build brand loyalty because
A. it makes their product more elastic.
B. it makes their product more inelastic.
C. it shifts its supply curve to the right.
D. it shifts its demand curve to the left.
B. it makes their product more inelastic.
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Health and public welfare expenditures account for the largest share of state and local government spending.
Answer the following statement true (T) or false (F)
Refer to Figure 4-5. The figure above represents the market for pecans. Assume that this is a competitive market. Which of the following is true?
A) If the price of pecans is $3 producers will sell 12,000 pounds of pecans but this output will be economically inefficient. B) If the price of pecans is $9 consumers will purchase more than the economically efficient output. C) Both 4,000 pounds and 12,000 pounds are economically inefficient rates of output. D) If the price of pecans is $3 the output will be economically efficient but there will be a deadweight loss.
A social cost that is not fully paid by the individual using an automobile is
A) traffic congestion. B) gasoline and oil. C) insurance. D) depreciation of the vehicle.
Less of the federal debt is owned by federal, state, and local governments than is owned by foreigners
a. True b. False Indicate whether the statement is true or false