Which is NOT true of Globalization
A. it refers to increasing economic and cultural interdependency amongst countries
B. it results in the financial ruin of some countries
C. it potentially increases economic well-being among all countries involved
D. it results in increasing competition, specialization, transmission of ideas.
Ans: B. it results in the financial ruin of some countries
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A good example of _________ is the merger between a steel firm and a cookware firm
a. a horizontal merger b. a vertical merger c. a conglomerate merger d. either a horizontal or conglomerate merger, depending on whether the oligopoly is balanced or unbalanced e. either a horizontal or conglomerate merger, depending on the market shares of the two firms
The United States economy is
a. the third largest in the world. b. larger than all other national economies combined. c. second largest in the world, behind Japan. d. largest in the world.
If rational expectations are assumed, inflation can be reduced with no corresponding increase in unemployment
a. True b. False Indicate whether the statement is true or false
Determining whether a good is a merit good is:
A. best done using economic theory. B. an objective exercise. C. a subjective exercise. D. best left to economists.