A discount shoe manufacturer's advertisement suggests that they are almost as good as the name brands but better value. The shoe manufacturer believes that the advertisement will
a. Make the demand for its product more elastic
b. Make his customers more price sensitive
c. Cause people to directly compare his product to the name brands
d. All of the above
d
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If this quote is TRUE, what would the neoclassical growth theory predict?
A) Economic growth stops because most technological advances have already been made. B) Economic growth is temporary regardless of technological change and GDP per person returns to subsistence levels. C) Economic growth will persist indefinitely because technological change will accelerate again as firms seek profits. D) Economic growth will accelerate because these technological changes are permanent.
________ in the desired reserve ratio will ________ the money multiplier
A) An increase; have no effect on B) An increase; decrease C) A decrease; decrease D) A decrease; will have no effect on