One goal a firm tries to achieve when it advertises a product is to
A) make the demand curve for the product more elastic.
B) make the demand curve for the product unitary elastic.
C) make the demand curve for the product more inelastic.
D) shift the demand curve for the product to the left.
C
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Assume South Korea and Vietnam have the same amount of resources. In a given time period, South Korea can produce 100,000 jackets or 1,000,000 shirts. Vietnam can produce 200,000 jackets or 2,000,000 shirts. This means that
A. Vietnam has an absolute advantage in both jackets and shirts. B. South Korea has an absolute advantage in jackets. C. South Korea has a comparative advantage in jackets. D. Vietnam has a comparative advantage in shirts.
In developing countries, exchange rates tend to be
A) floating with some government intervention. B) pegged. C) hard to tell from the data. D) run by currency boards. E) flexible.
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
According to the graph shown, what is the world price?
A. $45 B. $11 C. $23 D. $16
A decrease in the discount rate ________ bank reserves and ________ the money supply if banks respond appropriately to the change in the rate.
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases