What Is the Strongest Punishment That PRSA or IABC Can

question 7

Multiple Choice

What is the strongest punishment that PRSA or IABC can apply to practitioners who violate the organization's Code of Ethics?

• A) not allowing them to renew their licenses
• B) revoking their membership in the organization
• C) monetary fines up to $100,000
• D) prison sentences up to five years
• E) forcing them to watch World Cup soccer on television

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Definitions:

Giffen Good

A product for which demand increases as its price increases, contrary to the standard demand model, due to the interplay of income and substitution effects.

Income Effect

The change in an individual's or economy's income and how that change affects the quantity demanded of a good or service.

Price Decrease

A reduction in the cost of a good or service, which can increase consumer demand but may decrease supplier profits.

Consumer's Optimal

The point at which the combination of goods and services purchased by a consumer provides maximum satisfaction or utility, given the consumer's income and the prices of goods.