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. persuasive advertising.
B. direct market advertising.
C. informational advertising.
D. indirect market advertising.
Answer: A
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At each point on the line of income equality, the percentage of total population and the percentage of total income are equal
a. True b. False Indicate whether the statement is true or false
In the long run,
a. all of the firm's input quantities are variable. b. the firm can vary the quantities of some but not all inputs. c. managers become less efficient. d. the total cost of producing any given level of output is greater than or equal to the short-run total cost of producing that level of output.
Use the above figure. When the budget line rotates from "b" to "c"
A. more units of J and more units of K will be purchased. B. fewer units of J and fewer units of K will be purchased. C. more units of J and fewer units of K will be purchased. D. fewer units of J and more units of K will be purchased.
Interest rates are positive mainly because
A) of inflation. B) people tend to prefer the present to the future. C) people tend to prefer the future to the present. D) bankers are greedy.