The merger of Southwest Bell (SBC) and AT&T companies is an example of a
A. cooperative merger.
B. vertical merger.
C. consolidation merger.
D. horizontal merger.
Answer: D
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In the short-run if there is a surplus in the market for a product, the rationing function of price can be expected to cause
A) an increasing shift in the demand for the product. B) a decreasing shift in the supply of the product. C) an increase in the market price of the product. D) a decrease in the market price of the product.
Wages for high-skilled labor have risen more than wages for low-skilled labor even though more people are highly skilled college graduates than ever before. Which of the following explains this?
a. The demand for high-skilled labor has risen alongside the number of college graduates. b. The demand for low-skilled labor has risen while the demand for high-skilled labor remains the same. c. The value of both high-skilled labor and low-skilled labor has risen, but demand for both remains the same. d. The value of low-skilled labor has risen alongside the number of high school graduates.
Which of the following is an input in the circular flow diagram for an economy with two sectors?
a. A resource labor from the household sector b. A good supplied from the firm sector c. The revenue earned by the firm sector d. The income earned by the household sector
The accompanying figure shows Becky's daily production possibilities curve for dresses and skirts.
Point Y is ________, and point V is ________.
A. inefficient; efficient B. efficient; efficient C. inefficient; inefficient D. efficient; inefficient