A firm's horizontal dimension refers to
A) its size in its primary market.
B) its size in all markets in which is competes.
C) the level of supply chain integration the firm undertakes.
D) the number of stages in the production process that are upstream from the stages the firm undertakes.
A
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Jim left his previous job as a sales manager and started his own sales consulting business. He previously earned $70,000 per year, but he now pays himself $25,000 per year while he is building the new business
What is the economic cost of the time he contributes to the new business? A) $25,000 per year B) zero C) $70,000 per year D) $45,000 per year
In order for Mary to qualify for benefits under a means-tested transfer payment program,
a. she must have worked and contributed to the program b. she must be able to repay the cash transfer at a later date c. the head of her household must be able to hold a job d. she must be totally disabled e. her household's income and/or assets must fall below a certain level
Both countries can benefit from trade when:
A. at least one country produces the good for which it has an absolute advantage. B. each specializes in producing the good for which it has a comparative advantage. C. each specializes in producing the good for which it has an absolute advantage. D. there are no trade barriers that are erected by either country.
Using the equation of exchange and assuming full employment and a constant velocity of money, a decrease in the required reserve ratio would result in a
A. Lower velocity. B. Lower price level. C. Lower quantity of real output. D. Higher price level.