If Apple, a company that produces smartphones, purchases a company that specializes in developing phone apps, we would have an example of
A. a vertical merger.
B. a monopoly.
C. a horizontal merger.
D. excessive product differentiation.
Answer: A
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Aggregate demand and supply curves have been widely used to analyze the performance of the macroeconomy. Figure 5-3 shows four diagrams that represent different changes in the macroeconomy. Choose the diagram that best represents the situations described in the following questions.Figure 5-3
Which graph in Figure 5-3 best represents the economic conditions of the American economy in 2001?
A. 1 B. 2 C. 3 D. 4
The real GDP in a nation has just increased from $2 billion to $2.1 billion
A) This country has experienced economic growth because there is a $.1 billion increase in real GDP. B) We do not know if this country experienced economic growth since the increase in the population was not given. C) We do not know if this country experienced economic growth since information on nominal GDP was not given. D) This country did not experience economic growth since $.1 billion is not a large number.
If the CPI in the United States was 150 in 2003 and 160 in 2004, the inflation rate over the year is _____
a. 10 percent b. 20 percent c. 7 percent d. 30 percent e. 50 percent
Economic profits are equal to accounting profits:
a. In all cases b. In no cases c. When implicit costs are zero d. When implicit costs equal explicit costs