When a pharmaceutical company advertises that its allergy medication is clinically proven to alleviate hay fever symptoms, the pharmaceutical company is engaging in
A) informational advertising.
B) trademark protection.
C) persuasive advertising.
D) direct marketing.
A
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Using the data in the above table, if saving equals $650 billion and exports are greater than imports,
A) the government sector must run a deficit. B) net taxes will be greater than $1300 billion. C) net taxes will be less than $650 billion. D) government expenditures must increase.
If an increase in the price of accordions does not change total revenue from accordion sales, we can infer that demand for accordions is inelastic.
Answer the following statement true (T) or false (F)
The law of demand implies that the demand curve
A. shifts to the left when the price of a good decreases. B. shifts to the right when the price of a good increases. C. has a negative slope. D. has a positive slope.
Related to the Economics in Practice on page 221: Because land is demand determined, an acre of land in downtown Harlingen, Texas ________ an acre of land in downtown Chicago, Illinois.
A. would cost exactly the same as B. would most likely cost less than C. would most likely cost more than D. should cost approximately the same as