Which of the following statements presents accurate information about the Standard Oil merger?
a. The Standard Oil merger is an example of a vertical merger.
b. Standard Oil was initially organized as a holding company.
c. The petroleum refining industry was never particularly competitive, and was dominated by a few large firms even prior to the Standard Oil merger.
d. Following the merger, Standard Oil controlled 90 percent of U.S. refining capacity.
e. All of the above.
d. Following the merger, Standard Oil controlled 90 percent of U.S. refining capacity.
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In the circular flow model, the factors of production flow in the
A) opposite direction as does the goods market. B) opposite direction as does the government. C) same direction as do the rents, wages, interest, and profits. D) opposite direction as do the rents, wages, interest, and profits. E) same direction as does the goods market.
The Fed conducts an open market operation and buys $50,000 of government securities from Commerce Bank. The desired reserve ratio is 25 percent. What is the change in Commerce Bank's total reserves and its excess reserves?
What will be an ideal response?
Structural unemployment
A) falls during the expansion phase of the business cycle. B) falls as the pace of technological progress increases. C) generally lasts longer than frictional unemployment. D) falls when the government provides more generous unemployment compensation benefits.
Refer to Scenario 2. By examining the t-statistics associated with the regression coefficients, at the 5 percent significance level, which of the two independent variables are statistically different from zero?
What will be an ideal response?