Refer to Horizontal Merger. The result of the merger is
a. a decrease in marginal costs.
b. an increase in the quantity supplied.
c. a decrease in the price.
d. an increase in consumer surplus.
a. a decrease in marginal costs.
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The _________ is the yearly number of births per 1,000 women of childbearing age
a. Fertility rate b. Marriage rate affecting birth rates c. Baby rate d. Mortality rate
Which of the following is not a reason why wages respond slowly to changes in output?
a. Many labor contracts specify wages for up to three years. b. The process of wage setting in large corporations is slow moving. c. Frequent wage changes can reduce worker morale and reduce productivity. d. Firms benefit from having a reputation of paying stable wages. e. The labor supply and demand curves move rapidly to clear labor markets.
1998 appears to have been a year of
Consider the following hypothetical annual growth rates of real GDP:
a) economic expansion
b) recession
c) depression
d) growth recession
e) stagflation
Refer to the information provided in Figure 12.4 below to answer the question(s) that follow.
Figure 12.4There are two sectors in the economy, X and Y, and both are in long-run, zero-profit equilibrium at the intersections of S0 and D0.Refer to Figure 12.4. Assume consumer preference changes toward X and away from Y. Ceteris paribus, the likely change in capital flow in sector Y will cause the industry's short-run ________ curve to shift to the ________.
A. supply; left B. supply; right C. demand; right D. demand; left