A characteristic of outsourcing is
a. completely unrelated to vertical integration
b. likely to be profitable exactly when vertical integration is profitable
c. it prevents a firm from focusing on its core competencies
d. can allow for the exploitation of differing degrees of economies of scale at different points in the supply chain
d
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Money as defined by M1 includes
A. coins. B. paper money. C. checking deposits. D. travelers’ checks. E. All of these responses are correct.
A monopoly:
A. can increase price and increase output at the same time. B. can charge any price it wants and still sell all of its output. C. can sell any output it produces provided it accepts the market price. D. must lower price in order to increase output.
Assuming that investment, government expenditures, and net exports are all autonomous, the marginal propensity to consume for the economy represented in Figure 9.9 is
A. 0.25. B. 1.0 since aggregate expenditure is a straight line. C. 0.5. D. Indeterminate since there is no consumption function.
Let Qd = 10 - 2P and Qs = 3P be the demand and supply curves for Beer. The equilibrium combination (P* and Q*) in the market is ________.
A. P* = 5; Q* = 0 B. P* = 2; Q* = 5 C. P* = 2; Q* = 6 D. P* = 6; Q* = 2