If Capital Appliances advertises a 60 day low-price guarantee that will refund any of its customers the difference between the price they paid for an appliance and a lower price offered by Capital Appliances for the same appliance, this is an example of ________.
A) price visibility
B) a most-favored-customer clause
C) a meet-or-release clause
D) a meet-the-competition clause
B) a most-favored-customer clause
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In which year was the Federal Deposit Insurance Corporation (FDIC) established?
A) 1929 B) 1933 C) 1913 D) 1951
What is the term used for the process by which an entrepreneur creates or recognizes a new and better product, acquires it, and brings it to market, making older substitutes obsolete?
a. creative destruction b. innovation c. the substitution effect d. backward-bending innovation
The greater the elasticity of demand of a taxed item, the greater the tax revenue received
a. True b. False Indicate whether the statement is true or false
Hiring a sports celebrity to advertise a car dealership is a way of:
A. a waste of the dealership's money because celebrities aren't car experts. B. statistically discriminates potential buyers who like sports. C. screening those who aren't willing to pay as much for a car. D. signaling the quality of the cars because it is costly to hire that celebrity.