The joining of firms that are producing or selling a similar product is
A. a horizontal merger.
B. a vertical merger.
C. a cross or diagonal merger.
D. a conglomerate merger.
Answer: A
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Fiat money has value because: a. it is backed by gold
b. it is divisible. c. it can be used to buy things. d. it can be exchanged for a commodity backing it.
According to the monetarist view, the aggregate supply curve is:
A. Upward sloping to the right. B. Perfectly vertical at the natural rate of unemployment. C. Flat or horizontal until full employment is reached. D. Flat or horizontal at all levels of output.
Macroeconomic policies are government policies designed to affect:
A. particular sectors of the economy. B. the economic activity of the government. C. the environmental impact of all industries. D. the performance of the economy as a whole.
Does a tax on sellers affect the demand curve?
A. No, there is change in the quantity demanded, but the demand curve does not move. B. Yes, it shifts to the left by the amount of the tax. C. Yes, it shifts to the right by the amount of the tax. D. Yes, it shifts up by the amount of the tax.