The Best Way to Improve the Operation of Our MACRO-Marketing

question 175

Multiple Choice

The best way to improve the operation of our MACRO-marketing system-given the current objectives of our society-is:

• A) to encourage marketing managers to produce only what they feel is good for consumers.
• B) to eliminate intermediaries.
• C) to do better marketing strategy planning and implementation.
• D) to spend more on advertising.
• E) to move toward a command economy.

Identify the role of market elasticity in determining the deadweight loss and tax revenue.

Understand the change in consumer and producer surplus due to taxes.

Comprehend the relationship between tax size, tax revenue, and deadweight loss.

Understand how a government-imposed tax affects consumer surplus, producer surplus, and total surplus.

---

Definitions:

Harry Truman

The 33rd President of the United States (1945–1953), known for implementing the Marshall Plan for European recovery, leading the Cold War's early years, and making the decision to use atomic bombs against Japan.

New Deal Rhetoric

Language and discourse surrounding the series of programs and policies introduced by President Franklin D. Roosevelt in the 1930s to combat the Great Depression.

Soviet Union

A socialist state that existed from 1922 to 1991, consisting of multiple Soviet republics, and was a major global power during the 20th century, especially during the Cold War era.

Presidential Race

The presidential race refers to the competitive process of campaigning and election through which the President of the United States is selected.