Geico, the number-two auto insurer with $15 billion in revenue last year, spent $0.9 billion on advertising that year and plans to continue spending the same percentage of sales on advertising next year. the average advertising-to-sales ratio for the insurance industry is 0.1 percent of sales. if geico projects $20 billion in sales next year, using the percentage-of-sales method of advertising budgeting, how much will the company budget for advertising of basing it on projected sales?

The prebisch–singer hypothesis concludes that: a. technology lowers the cost of manufactured products, so developing countries should see an increase in their terms of trade. b. developing countries experience a long-run decline in their terms of trade, as the demand for primary products in higher-income countries declines relative to their demand for manufactured goods. c. because of unfair trading practices, labor in developing countries is exploited. d. opec has been responsible for a slowdown in the world's standard of living.