What is known as the set of firms that facilitate the movement of goods from producers to consumers?
A. Supply chain
B. Product chain
C. Distribution channel
D. Marketing mix
Ans: C. Distribution channel
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Per capita real GDP levels provide one possible measure of a country's standard of living
Indicate whether the statement is true or false
A firm is more likely to adopt multiple brand names for the same product when the good is a non-durable
Indicate whether the statement is true or false
If the expenditure schedule must be shifted upward to reach potential GDP, then the economy is experiencing a(n)
a. inflationary gap. b. precautionary gap. c. recessionary gap. d. expansionary gap.
Trade between the United States and Guatemala
a. benefits both the United States and Guatemala. b. is a losing proposition for the United States because Guatemalan labor is less expensive than U.S. labor. c. is a losing proposition for Guatemala because capital is much more abundant in the U.S. than in Guatemala. d. is a losing proposition for Guatemala because U.S. workers are more productive than Guatemalan workers.