The joining of firms that are producing or selling a similar product is known as
A. economies to scale.
B. a conglomerate merger.
C. a horizontal merger.
D. a vertical merger.
Answer: C
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A central bank sets out to reduce unemployment by changing the money supply growth rate. The long-run Phillips curve shows that in comparison to their original rates, this policy will eventually lead to
a. an increase in both the inflation rate and the unemployment rate. b. an increase in the inflation rate and a reduction in the unemployment rate. c. no change in either the inflation rate or the unemployment rate. d. an increase in the inflation rate and no change in the unemployment rate.
Apple improves the resolution of its iPhone camera by doubling the number of megapixels. This is an example of vertical differentiation.
Answer the following statement true (T) or false (F)
Over the past several decades there has been rapid growth in international trade. This growth has been due to all but one of the following factors. Which factor has not contributed to the growth of international trade?
A) a change in the tariffs charged on many goods B) favorable changes in government policies C) a reduction in shipping costs D) the spread of reliable communications
If an indifference curve is bowed out away from the origin, the marginal rate of substitution is
a. not likely to reflect the relative value of goods. b. likely to be constant for all bundles along the indifference curve. c. likely to be identical to the price ratio for each bundle along the indifference curve. d. different for each bundle along the indifference curve.