Which of the following is an example of a vertical merger?
A. Northwestern Idaho University going from a public to a private university.
B. Northwestern Idaho University merging with Roosevelt University.
C. Northwestern Idaho University merging with a training academy for new professors.
D. Northwestern Idaho University merging with Starbucks Coffee.
Answer: C
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The securitization of mortgages was first carried out by
A) Fannie Mae and Freddie Mac. B) WorldCom and Enron. C) the Federal Deposit Insurance Corporation (FDIC). D) Sarbanes-Oxley.
If a monopoly firm sells to competitive distributors and the distributors have a constant marginal cost of $2 and they are paying the profit-maximizing wholesale price of $8, what is the retail price of the product?
A) $6 B) $8 C) $2 D) $10
In Wealth of Nations, Adam Smith described the concept of division of labor and specialization by using an illustration of a visit to a
a. chicken farm b. pin factory c. bakery d. blacksmith e. town hall
Some kids wait until the school year begins to buy their back-to-school clothes so that they are sure to fit in. Such follow-the-leader behavior is an example of what the text calls:
A. efficient rationality. B. rules of thumb. C. focal point equilibrium. D. bounded rationality.