Its critics claim that when advertising ____ the elasticity of demand, firms are able to ____
a. decreases; lower their advertising budget
b. increases; become more competitive
c. increases; increase their advertising budget
d. decreases; charge a larger mark-up over marginal cost
d
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If a firm has an incentive to increase supply now and decrease supply in the future, then the firm expects that the
A) demand for the product will be lower in the future than it is today. B) price of its product will be higher in the future than it is today. C) price of its product will be lower in the future than it is today. D) price of inputs will be lower in the future than they are today.
Refer to Table 18-1. Suppose a series of votes are taken in which each pair of alternatives is considered in turn. If the vote is between allocating funds to subsidies for education and research on Alzheimer's
A) Ivy and Rose vote for education subsidies, Jasmine votes for Alzheimer's research, and education subsidies wins. B) Jasmine and Rose vote for Alzheimer's research, Ivy votes for education subsidies, and Alzheimer's research wins. C) Ivy and Jasmine vote for education subsidies, Rose votes for Alzheimer's research, and education subsidies wins. D) Jasmine and Ivy vote for Alzheimer's research, Rose votes for education subsidies, and Alzheimer's research wins.
If a city decides to restrict the number of pizza parlors,
A) the price of pizza will increase. B) pizza parlors will make higher profits. C) total welfare will decrease. D) All of the above.
At the end of 2014, the economy was ________ and the deficit was ________.
A. well below full employment; entirely cyclical B. at full employment; entirely structural C. not quite at full employment; partially cyclical D. above full employment; entirely structural