During the 1990's, New York Was Challenged as the "Center

question 22

Multiple Choice

During the 1990's, New York was challenged as the "center of the advertising universe" by:

• A) London's creative agencies in a new world-wide advertising venue
• B) the federal government who broke up agency monopolies into various subsidiaries.
• C) highly creative agencies in California, Oregon and Washington.
• D) fear of the new media.

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Definitions:

Public Choice Economists

Economists who apply economic principles and methodologies to study and analyze political behavior and public policies.

Optimal Allocation

The most efficient distribution of resources among different possible uses that maximizes desired outcomes, such as profit or social welfare, without wasting any resources.

Deferred Costs

Expenses that are incurred but not immediately charged against income, typically spread over several accounting periods.

Rent-seeking Behavior

The practice of individuals or entities using resources to gain economic advantage from the government rather than contributing to wealth creation.