Economics Today and Tomorrow, Student Edition
1st Edition
ISBN: 9780078747663
Author: McGraw-Hill
Publisher: Glencoe/McGraw-Hill School Pub Co
expand_more
expand_more
format_list_bulleted
Question
Chapter 3, Problem 8AA
To determine
The best term which completes the sentence with correct meaning.
Expert Solution & Answer
Answer to Problem 8AA
Option (b) − Perceive.
Explanation of Solution
Advertising of a product or service is done so as to influence the general public or the users to buy the product. It tries to change the perspective of the buyer through advertisement.
It changes the way the competitors and products are perceived by the buyer, that too positively so that the consumer gets attracted to the product and ultimately converts his desires into the willingness to buy the product or the service.
Other options do not fit in the answer because no other option talks about the perspective change of the users of the product through advertisement.
Economics Concept Introduction
Introduction:
Advertising means the communication about the product to the one who is using it. It is a way or an activity performed so as to inform and influence the users about the products or the services.
Chapter 3 Solutions
Economics Today and Tomorrow, Student Edition
Ch. 3.1 - Prob. 1RCh. 3.1 - Prob. 2RCh. 3.1 - Prob. 4RCh. 3.2 - Prob. 1RCh. 3.2 - Prob. 2RCh. 3.2 - Prob. 3RCh. 3.2 - Prob. 4RCh. 3.3 - Prob. 1RCh. 3.3 - Prob. 2RCh. 3.3 - Prob. 3R
Ch. 3.3 - Prob. 4RCh. 3.3 - Prob. 5RCh. 3 - Prob. 1AACh. 3 - Prob. 2AACh. 3 - Prob. 3AACh. 3 - Prob. 4AACh. 3 - Prob. 5AACh. 3 - Prob. 6AACh. 3 - Prob. 7AACh. 3 - Prob. 8AACh. 3 - Prob. 9AACh. 3 - Prob. 10AACh. 3 - Prob. 11AACh. 3 - Prob. 12AACh. 3 - Prob. 13AACh. 3 - Prob. 14AACh. 3 - Prob. 15AACh. 3 - Prob. 16AACh. 3 - Prob. 17AACh. 3 - Prob. 18AACh. 3 - Prob. 20AACh. 3 - Prob. 21AACh. 3 - Prob. 22AACh. 3 - Prob. 23AACh. 3 - Prob. 24AA
Additional Business Textbook Solutions
Find more solutions based on key concepts
What is a qualitative forecasting model, and when is its use appropriate?
Operations Management
This year, Prewer Inc. received a 160,000 dividend on its investment consisting of 16 percent of the outstandin...
Principles Of Taxation For Business And Investment Planning 2020 Edition
Asset Retirement Obligation, Disposal. Buckner Chemical Products reported the following Information on Its late...
Intermediate Accounting (2nd Edition)
Consider the sales data for Computer Success given in Problem 7. Use a 3-month weighted moving average to forec...
Operations Management: Processes and Supply Chains (12th Edition) (What's New in Operations Management)
What is a beta? How is it used to calculate r, the investor’s required rate of return?
Foundations Of Finance
A case study in this chapter discusses the federal minimum-wage law. a. Suppose the minimum wage is above the e...
Principles of Economics (MindTap Course List)
Knowledge Booster
Similar questions
- The idea that a country can experience gains from trade means that it can A) consume at a point outside its production possibilities frontier. B) increase its exports. C) increase the efficiency of its production. D) experience a bowed-out production possibilities frontier.arrow_forwardA country is likely to have a comparative advantage in a land-intensive activity if it has a A) alot of land relative to its population. B) large population relative to its landmass. C) higher opportunity cost of producing technology. D) large amount of capital equipment relative to its population.arrow_forwardFlorin and Guilder are two countries separated by a narrow sea. They use currencies called, respectively, the Flop and the Gulp. Suppose the nominal exchange rate is 20 Flops per Gulp. A Guilderian trader buys a 120 Flop barrel of Florish pickles by exchanging 6 Gulps, and a Florish trader buys a 4 Gulp crate of Guilderian apples by exchanging 80 Flops. Then the Gulp depreciates to 10 Flops per Gulp. Instructions: Enter your answers as whole numbers. How much must the Guilderian pay for the same 120 Flop barrel of pickles? Gulps How much must the Florish trader pay for the same 4 Gulp crate of apples? Flopsarrow_forward
- Suppose the nominal exchange rate is 5 Flops per Gulp. A Guilderian trader buys a 40 Flop barrel of Florish pickles by exchanging 8 Gulps, and a Florish trader buys a 10 Gulp crate of Guilderian apples by exchanging 50 Flops. Then the Gulp appreciates to 10 Flops per Gulp. What price must the Guilderian pay for the same 40 Flop barrel of pickles? Gulps How much must the Florish trader pay for the same 10 Gulp crate of apples? Flopsarrow_forwardSuppose the nominal exchange rate is 0.25 Flops per Gulp. A Guilderian trader wants to buy a barrel of Florish turnips for 20 Flops. How many Gulps must he convert to get that many Flops?arrow_forward3. With 17,508 islands, 700 languages, 58 active volcanoes, Indonesia is a dream place. Your company, located in the United States, specializes in importing electrical equipment from Indonesia. In 2023, the United States imported a total of $4.63 billion of electrical and electronic equipment from Indonesia. As of 2024, the average currency exchange rate between the U.S. dollar and Indonesian Rupiah is 1 U.S. dollar to 15,458 Rupiah. However, the exchange rate between the U.S. dollar and the Rupiah has been declining for the past 3 months. Basically, the U.S. dollar continues to depreciate against the Rupiah. While chilling in your living room with your friends and watching the evening news, you hear a reporter state the following: "Due to stubborn high inflation in the United States, the central bank decided to raise the interest rate to control the growth of inflation." The next day, you shared that news with your team at work, and one of teammates seemed confused because she did…arrow_forward
- 1. 1800 tons of pomegranates a year is a lot of sweetness! Summertime is approaching, and you decide to spend your summer vacation with your Aunt Zahra who lives in Jalalabad. Jalalabad is one of the major cities in Afghanistan and is known for its rich cultural heritage. It also has economic importance and is especially well-known for its luscious fruits, such as pomegranates, grapes, and mulberries, and also for its beautiful mountains. Your plan is to travel around while there visiting national parks and local villages and to purchase locally made gifts for your family and friends who live in the United States. Part of your trip plan is to figure out how much money you will need to bring with you to Afghanistan. You learned that the exchange rate is 71 Afghan Afghani for 1 US dollar. Now, you are one month away from your departure time to Jalalabad, and as you were surfing the net to learn about the country and to learn a few greeting words in Afghani, you came across a recent…arrow_forwardAn economy originally operates at the full employment output level. Suppose the economy suddenly experiences a rapid growth in aggregate demand. a. With the aid of an AS-AD diagram, explain why there will be inflationary pressure in the short run. b. suppose the government does not intervene. Using the same diagram in part (a) and with reference to the market adjustment mechanism from the short run to the long run, explain whether the inflationary pressure can be relieved in the long run. C. With the aid of another diagram, suggest ONE fiscal policy that can deal with the inflation. Suggest THREE methods that the government can use to promote economic growth in the long run.arrow_forwardThe table below shows pizza topping preferences for Marcus, Dakota, and Austin, and that each individual has strictly transitive preferences. Suppose that three individuals make up our "society." In this society, prefer pepperoni to cheese pizza; _prefer cheese to supreme; and prefer supreme to pepperoni. This example illustrates that _ Person Marcus Dakota Austin 0000 First Preference Pepperoni Supreme Cheese Second Preference Cheese Pepperoni Supreme Third Preference Supreme Cheese Pepperoni two-thirds; two-thirds; two-thirds; even if individuals' preferences might satisfy the transitive property, societal preferences may not. two-thirds; two-thirds; everyone; if individuals' preferences satisfy the transitive property, societal preferences must also. two-thirds; two-thirds; everyone; even if individuals' preferences might satisfy the transitive property, societal preferences may not. two-thirds; two-thirds; two-thirds; if individuals' preferences satisfy the transitive property,…arrow_forward
- Consider the table below, which has data on insurance status and medical expenditures for different types of professors at Hypothetical University (HU), economics & criminology professors. Assume that there are an equal number of economics and criminology professors. Assume further that econ professors all have the same level of health and criminology professors all have the same level of health. In 2020, every professor was offered a full insurance contract with no premium. In 2021, HU charged any employee who wanted to keep health insurance the actuarially fair premium based on 2020 expenditures. This premium would be equal to and, as a result,professors dropped their coverage in 2021. _ 2020 2021 Insured? Avg. Expenditures Insured? Avg. Expenditures Economics Professors Criminology Professors Yes Yes $25,000 $15,000 000000 $15,000; criminology $25,000; econ $20,000; econ $15,000; econ $20,000; criminology $25,000; criminology ??? $28,000 ??? $10,000arrow_forwardConsider the table below, which has data on insurance status and medical expenditures for different types of professors at Hypothetical University (HU), economics & criminology professors. Assume that there are an equal number of economics and criminology professors. Assume further that econ professors all have the same level of health and criminology professors all have the same level of health. There is evidence of 2021 Insured? Avg. Expenditures Insured? Avg. Expenditures 2020 Economics Professors Criminology Professors Yes. Yes $25,000 $15,000 0000 ??? ??? $28,000 $10,000 I. moral hazard because in 2021 criminology professors dropped their coverage and health expenditures went down. II. adverse selection because in response to rising premiums after 2020, the professors with lower health expenditure dropped coverage Both I and II neither I nor IIarrow_forward0000 Health Suppose that you graph nations' health expenditures against income and see that the US's point lies below others (like in the stylized figure below). From the graph below, it appears that the US is However, this may not be the case if_ Switzerland UK US HPF Health expenditures productively inefficient; The US has a population that prefers spending their resources on health productively efficient; The US has a population that prefers spending their resources on health productively efficient; The US has lower levels of inherent health, therefore it has its own HPF which is lower than the others. productively inefficient; The US has lower levels of inherent health, therefore it has its own HPF which is lower than the others.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSON
Engineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage Learning
Managerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education