In which industry structure is advertising and sales promotion likely to be most important?
A. monopoly
B. monopolistic competition
C. perfect competition
D. All of these are equally reliant on effective advertising and promotion.
Answer: B
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If the government uses stabilization policies to reduce inflation, the economy may have to suffer
A. higher rates of real GDP growth. B. higher rates of unemployment. C. lower rates of unemployment. D. higher rates of price level growth.
The above figure shows the U.S. market for flip-flops. When there is no international trade, the U.S. price is ________ per flip-flop and the U.S. quantity is ________ flip-flops
A) $14; 300,000 B) $14; 500,000 C) $14; 700,000 D) $12; 700,000 E) $12; 300,000
"Demand curves slope down, so the demand curve faced by a perfectly competitive firm must also be downward sloping." Do you agree or disagree? Why?
What will be an ideal response?
Currently, the U.S. national income and product accounts (NIPA) use what type of price index to calculate real GDP?
A. Heavy-weight B. Fixed-weight C. Variable-weight D. Chain-weight