Refer to the Article Summary. One explanation for the increase in product sales because of celebrity endorsements is that people seem to receive ________ from goods they believe are popular
A) more utility B) increased path dependency
C) diminishing utility D) greater network externalities
A
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An example of an intangible good is: a. an automobile. b. a new house
c. a snowplow. d. friendship.
A classical IS-LM model of the world economy can be used to show that in a flexible exchange-rate system, a temporary increase in government purchases will cause
A. output and the real interest rate to rise, which increases net exports but has an ambiguous effect on the real exchange rate. B. output to rise and the real interest rate to fall, which reduces net exports and causes the exchange rate to depreciate. C. the real interest rate to fall, which causes the exchange rate to rise, which reduces net exports. D. output and the real interest rate to rise, which reduces net exports but has an ambiguous effect on the real exchange rate.
Economic analysis and policy are made more difficult by
A. having so much data to work with. B. inadequate and imperfect information. C. an incomplete consensus on the basic goals of social policy. D. the lack of public interest and opinion on economic questions. E. the major economic problems society faces.
The resource most directly associated with profits is
a. land. b. labor. c. capital. d. enterprise.