Ever since the creation of the interstate highway system, the railroads have had to compete with trucks for freight shipments. Union Pacific, the nation's largest railroad, now offers door-to-door services to clients, using their own trains and trucks. This must be the result of:
A. horizontal merger.
B. vertical merger.
C. conglomerate merger.
D. deregulation.
Answer: B
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Use the following graphs to answer the next question.
In the graphs, the numbers in parentheses near the AD1, AD2, and AD3 labels indicate the levels of investment spending associated with each curve. All figures are in billions. What is the desired level of investment spending in this economy if the goal is to achieve a noninflationary, full-employment level of real GDP?
A. $100 billion B. $225 billion C. $150 billion D. $50 billion
If the interest rate increases, the money demand curve
a. shifts to the right. b. shifts to the left. c. neither shifts nor changes slope. d. gets steeper. e. becomes horizontal.
Menu costs are the costs of:
A. changing production. B. running a restaurant. C. increasing aggregate demand. D. changing prices.
Based on the graphs for an increase in aggregate demand and the Phillips curve, we can see that when aggregate demand is strong, ______.
a. RGDP is low
b. unemployment is high
c. inflation is low
d. inflation is high