The goal of advertising is to
A) pay for public broadcasting.
B) differentiate a firm's product.
C) overwhelm the buyer so they buy a firm's product.
D) minimize cost curves for the firm.
Answer: B
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In the United States, the typical person who has lost his or her job finds another one in a few months except during severe recessions
Indicate whether the statement is true or false
An examination of the Ricardian model of comparative advantage yields the clear result that trade is (potentially) beneficial for each of the two trading partners since it allows for an expanded consumption choice for each
However, for the world as a whole the expansion of production of one product must involve a decrease in the availability of the other, so that it is not clear that trade is better for the world as a whole as compared to an initial situation of non-trade (but efficient production in each country). Are there in fact gains from trade for the world as a whole? Explain.