Which of the following is a characteristic of the 'Attention Economy'?
A. Only physical goods matter
B. Attention is unlimited and has no economic value
C. Human attention is treated as a scarce resource that platforms and content providers compete to capture
D. Only traditional advertising without digital platforms
Answer: Option C
Solution (By JKSSB Mock Tests)
In the attention economy, the limited cognitive resource of human attention is the scarce factor that digital platforms, media and advertisers compete to attract and monetise.
Explanation:
Absolute purchasing power parity states that the nominal exchange rate should equal the ratio of the domestic to the foreign price level so that a basket of goods costs the same in both countries.
Explanation:
The natural rate hypothesis, associated with Friedman and Phelps, states that in the long run the economy returns to the natural rate of unemployment and there is no permanent trade-off with inflation.
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