The _____ occurs when trends that start in the upper classes are copied by lower classes.
A) boomerang effect
B) law of demand
C) trickle-down effect
D) law of social influence
E) law of marginal utility
Question 2New international firms can no longer enter a country when the country implements a blocked-currency strategy.
Indicate whether the statement is true or false
Question 3Price discrimination by the manufacturer has been identified as a main cause of parallel importing.
Indicate whether the statement is true or false
Question 4Johnny Daniels, a clothing brand, started out by providing cheap and durable clothes for everyday use and gained popularity among the lower-income groups. After a while, higher-income groups began to purchase the brand's clothes to emulate the lower-income groups. This is referred to as a(n):
A) class elevation.
B) status extension.
C) internal struggle.
D) class division.
E) status float.
Question 5Governments use currency flow restrictions primarily to get around WTO tariff policies.
Indicate whether the statement is true or false
Question 6A firm charging the same price to all channel members encourages competition from unauthorized channels.
Indicate whether the statement is true or false
Question 7A _____ occurs when trends in clothing and music start in the lower and middle classes and then spread upward.
A) status float
B) class deviation
C) class distinction
D) frequency division
E) class struggle
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