The basic function of advertising, according to its proponents, is to assist consumers in making informed, rational choices.
Answer the following statement true (T) or false (F)
True
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What is the price of cars if this were a closed economy? 
A. $14,000/car B. $10,000/car C. $6,000/car D. $8,000/car
Suppose the price of a can was $5.10. In this case, to maximize its profit, the firm illustrated in the figure above would
A) decrease its production and would make an economic profit. B) not change its production and would make zero economic profit. C) not change its production and would make an economic profit. D) decrease its production and would incur an economic loss. E) not change its production and would incur an economic loss.
The Federal Reserve lowers interest rates. As a result, in the short run, real GDP ________ and the price level ________
A) increases; rises B) increases; falls C) decreases; rises D) decreases; falls
Which of the following is not a defining characteristic of globalization?
a. Increased cross-border flow of trade in goods b. Increased cross-border flow of trade in services c. Increased international mobility of information d. Increased frequency of wars e. Increased mobility of individuals across borders