In the 1920s General Motors gobbled up more than 100 independent carmakers. This would be an example of a ________ merger.
A. vertical
B. horizontal
C. conglomerate
B. horizontal
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
High skilled labor and information technology are ________ while low skilled labor and information technology are ________
A) complements; substitutes B) substitutes; substitutes C) substitutes; complements D) complements; complements
In the history of the U.S. economy, which economic era saw both high unemployment and high inflation at the same time?
a. After the Great Depression to the early 1970s b. Since the early 1980s c. The colonial period d. Before and during the Great Depression e. From the early 1970s to the early 1980s
If a firm has large start-up costs and nearly zero marginal costs
A) the firm can profit by focusing on total cost. B) the firm cannot profit competing on marginal cost. C) the firm can make money by simply charging a price. D) the firm can profit competing on marginal cost.