"Banana republics" refers to:
A) nations that do not participate in free trade.
B) nations that are net importers.
C) nations that specialize in the production of only one good.
D) nations that produce only agricultural products.
C
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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
When the money market is drawn with the value of money on the vertical axis, the price level increases if
a. money demand shifts right and decreases if money supply shifts right. b. money demand shifts right and decreases if money supply shifts left. c. money demand shifts left and decreases if money supply shifts right. d. money demand shifts left and decreases if money supply shifts left.
It is assumed in standard economic theory that a firm makes decisions in an effort to
A) have a highly diversified product. B) become as large as possible. C) maximize its profits. D) maximize its revenue. E) be favoured politically.
The budget deficit or surplus is:
A. easy to calculate since there is only one valid method for computing it. B. easy to calculate since economists agree on how it should be computed. C. hard to calculate even though there is only one valid method for computing it. D. hard to calculate since economists disagree on how it should be computed.