Which of the following slogans use customer loyalty to sell its product?
a. You know these hamburgers are good, they're Wendy's.
b. Wendy's Hamburgers, a new type of burger
c. Treat yourself to the best burgers, eat at Wendy's
d. Get the most for your money, eat Wendy's Hamburgers.
Ans: a. You know these hamburgers are good, they're Wendy's.
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What is a currency board?
a. A fixed exchange rate that, by law, exchanges domestic currency for a specified foreign currency at a fixed exchange rate. b. A floating exchange rate. c. A managed floating exchange-rate policy that the government adjusts periodically according to some economic indicator. d. A laissez-faire exchange-rate policy. e. An interventionist exchange-rate policy.
The total revenue of Grandma's Fudge Factory is equal to the:
A. average cost times quantity sold. B. elasticity of demand divided by percentage change in quantity. C. price of fudge times quantity sold. D. income minus explicit and implicit costs.