When you see an advertisement on TV for a hair care product in which the actor using the product is depicted as beautiful and happy, this is
A) informational advertising.
B) direct market advertising.
C) indirect market advertising.
D) persuasive advertising.
D
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The scientific method uses models to ___________
A. clarify normative disagreements B. avoid the need to study real questions C. replicate all the features of the real world D. focus on those features of reality assumed relevant for understanding a cause and effect relationship
The industrial organization economics perspective locates the source of advantage at the
a. Individual firm level b. Industry level c. Both a and b d. None of the above
If firms have to change their production techniques in order to change the quantities they supply, their response to a price change will be less in a period of a year as compared to what they can do in a month
a. True b. False Indicate whether the statement is true or false
During the expansion phase of the business cycle, we would normally expect to see real income ____, price level ____, and unemployment rate ____.
a. increasing; increasing; increasing b. increasing; decreasing; decreasing c. increasing; increasing; decreasing d. falling; increasing; increasing