__________ Are 40-50 Small Metropolitan Areas Throughout the United States

question 6

Multiple Choice

__________ are 40-50 small metropolitan areas throughout the United States that have characteristics, such as demographics and socioeconomic status, that are representative of the country as a whole.

• A) Simulated test markets
• B) Area test markets
• C) Metropolitan test markets
• D) Country test markets

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Definitions:

Productive Capacity

The maximum output that an economy can achieve when using its resources fully and efficiently.

Standard of Living

The degree of wealth and material comfort available to a person or community.

Aggregate Expenditures

are the total amount of spending on goods and services in an economy at a given level of income during a specified period.

Recession

A phase of short-term economic downturn characterized by decreased trading and industrial output, generally recognized by a drop in Gross Domestic Product across two consecutive quarters.