Mass marketing involves
A) using all types of media, such as television and radio, to reach as many consumers as possible.
B) Internet ads only.
C) using direct mailings only.
D) lower-cost methods of advertising.
Answer: A
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Suppose that a jewelry store found that when it increased prices by 10 percent, sales revenue increased by 3 percent. Which of the following is true about the price elasticity of demand for the store's goods?
a. Demand is perfectly inelastic. b. Demand is inelastic, but not perfectly. c. Demand is unitary classic. d. Demand is elastic, but not perfectly. e. Demand is perfectly elastic.
Daryn is raking leaves to earn money for his university's economics club. In the first hour, he rakes 8 bags of leaves. In the second hour, he rakes 6 bags of leaves. If he earns $8 per hour, the value of the marginal product of the second hour of labor is $16
a. True b. False Indicate whether the statement is true or false
Economic growth and development in LDCs are low because many of them lack:
a. saving. b. infrastructure. c. a political environment favorable to growth. d. All of the answers are correct.
For this question, assume that the economy is operating in a fixed exchange rate regime and that perfect capital mobility exists. Given this information, which of the following will occur?
A) The domestic and foreign interest rates must be equal. B) The central bank cannot use monetary policy to affect domestic output. C) An expansionary fiscal policy will require that the central bank increase the money supply. D) all of the above E) none of the above