In which of the following cases did the government successfully block a merger?
A. Staples and Office Depot
B. Interstate Bakeries and Continental Bakery
C. AT&T and Verizon
D. Standard Oil and Mobil
Answer: A
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What is the free-rider problem? Why do free riders make the private provision of a public good inefficient?
What will be an ideal response?
Amy can produce either 5,000 pounds of cheese or 20 cars per year. Mike can produce either 5,000 pounds of cheese or 10 cars per year. Mike's opportunity cost of producing one pound of cheese is ________ car(s).
A. 1/500 B. 1/10 C. 1/250 D. 500
The real exchange rate is the:
A. price of the average domestic good or service relative to the price of the average foreign good or service, when prices are expressed in terms of a common currency. B. quantity of foreign currency assets held by a government for the purpose of purchasing the domestic currency in the foreign exchange market. C. nominal exchange rate adjusted for domestic inflation. D. rate at which two currencies can be traded for each other.
U.S. businesses are demanders of foreign currencies because they need them to:
A. Sell goods and services exported to foreign countries B. Pay for goods and services imported from foreign countries C. Receive interest payments from foreign governments D. Receive interest payments from foreign businesses