Assume an Economy That Is Producing Only One Product

question 136

Multiple Choice

$$\begin{array} { | c | c | c | } \hline \text { Year } & \text { Units of Output } & \text { Price Per Unit } \\\hline 1 & 20 & \$ 4 \\\hline 2 & 25 & 4 \\\hline 3 & 30 & 6 \\\hline\end{array}$$ Assume an economy that is producing only one product. Output and price data for a three-year period are shown in the table. If year 2 is chosen as the base year, real GDP for year 1 is

• A) $25.
• B) $100.
• C) $20.
• D) $80.

Understand the motives behind aggressive behavior in unpopular children, including the desire for any form of attention.

Understand the framework for ethical decision making in business contexts.

Distinguish between business ethics and marketing ethics.

Recognize the role of corporate social responsibility (CSR) in the marketing and operation of controversial or polluting industries.

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Definitions:

Mere-Exposure Effect

A psychological phenomenon where people tend to develop a preference for things merely because they are familiar with them.

Reciprocal Liking

The phenomenon where people tend to like others who like them back.

Proximity

The physical closeness or distance between people or objects, often influencing relationships and interactions.

Physical Availability

The degree to which a product or service can be obtained by the consumer, often relating to its distribution, placement, and stock levels in the marketplace.