Defenders of advertising argue that it:
a. informs buyers and broadens the market for goods.
b. enhances economic efficiency by lowering prices.
c. enables small firms to compete more effectively with large ones.
d. all of these.
d
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National income is equal to
A) GDP minus depreciation. B) GNP plus depreciation. C) disposable personal income plus depreciation plus personal taxes. D) personal income minus personal taxes.
Pollution reduction policies are likely to lead to: a. higher product prices
b. lower product prices. c. unchanged product prices. d. indeterminate changes in product prices.
The organization responsible for creating and regulating the U.S. money supply is
a. the Department of Commerce b. the Council of Economic Advisers c. the U.S. Mint d. the Federal Reserve System e. the Department of the Treasury
If the dollar appreciates and the U.S. AD curve shifts _______________ by an amount less than the U.S. SRAS curve shifts __________________, then Real GDP will _________________________
A) rightward; leftward; increase B) rightward; leftward; decrease C) leftward; rightward; increase D) leftward; rightward; decrease