An increase in all prices is inflation
a. true
b. false
Ans: b. false
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Which of the following is true of trademarks?
A) If a firm is granted a trademark, then no other firms can legally produce similar products for a given period of time. B) A successful trademark is one that allows consumers to immediately identify the source or producer of the product. C) If a firm is granted a trademark, then no other firms can legally sell in the same geographic area for a given period of time. D) A successful trademark is one that becomes a generic name for a product, for example, "Xerox" has become a generic term for making photocopies.
Supporters of advertising claim that it:
a. increases the variety of products. b. attacks established brand loyalties. c. allows new firms to compete. d. all of these.