Advertisers currently spend about $100 million per year to change the demand for products.
Answer the following statement true (T) or false (F)
False
Advertisers now spend over $200 billion per year to change our tastes.
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Price supports are a form of price ceiling for agricultural products that lowers prices for consumers and enhances market efficiency.
Answer the following statement true (T) or false (F)
In the basic competitive model of labor markets, we assume that
A. all compensation is monetary and there are some fringe benefits included. B. firms have discretion over the wages they pay to their employees. C. all compensation is monetary and there are no fringe benefits. D. market wage rates are not costlessly observable.
Suppose the actual federal funds rate is below the rate implied by a particular inflation goal. In this situation, the Taylor rule implies that
A) monetary policy is expansionary.
B) monetary policy is contractionary.
C) monetary policy is neither expansionary or contractionary.
D) fiscal policy is contractionary.
By Marks buys a one-year German government bond (called a bund) for $400. He receives principal and interest totaling $436 one year later. During the year the CPI rose from 150 to 162, but he had thought the CPI would be at 159 by the end of the year. By Marks had expected the real interest rate to be ________, but it actually turned out to be ________.
A. 8%; 1% B. 3%; 1% C. 6%; 3% D. 1%; 3%