A government-sponsored good is often
A) produced by the government.
B) subsidized.
C) taxed.
D) advertised.
Answer: B
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Which of the following is not an assumption of the decision-making process followed by consumers to maximize utility?
A. The consumer does not consider the prices of the products. B. The consumer behaves rationally. C. The consumer can rank his preferences. D. The consumer has a limited income.
The slope of the consumption function is equal to: a. the MPC
b. the MPS. c. 1/(1 - MPC). d. MPC - MPS.
Which one of the following is the best example of an oligopolistic industry?
A. wheat growers B. apple growers C. public utilities D. soft drinks
Advertising intended to reach as many consumers as possible, typically through television, newspaper, or magazine ads is referred to as
A. interactive advertising. B. direct marketing. C. subliminal advertising. D. mass marketing.