When firms advertise their products, they are attempting to:
a. shift the supply curve of the product to the right.
b. shift the supply curve of the product to the left.
c. shift the demand for the product to the right.
d. shift the demand for the product to the left.
e. create a surplus of the product.
c
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If the economy produces 36 consumer goods and 12 capital goods the economy would be producing __________________ (outside/on/inside) the production possibilities curve.
A higher interest rate will:
What will be an ideal response?
The post hoc, ergo propter hoc fallacy consists of:
A. Using an example to "prove" a different point B. Inferring causality from chronological sequence C. Jumping to conclusions from an inadequate number of cases D. Arguing for or against a person's character rather than his view or opinion
An argument supporting promotion of the urban informal sector is
(a) the formal sector is incapable of providing enough employment. (b) informal sector workers are poorly educated. (c) it uses a relatively high capital intensity. (d) it would reduce urban bias.