Recall the Application about the 1998 merger between Pennzoil and Quaker State to answer the following question(s). The merger resulted in a company with a market share of 38 percent: 29 percent from Pennzoil and 9 percent from Quaker State.Recall the Application. A recent study concluded that following the merger between Pennzoil and Quaker State, the market share of Pennzoil products ________ and the market share of Quaker State products ________.
A. increased; increased
B. increased; decreased
C. increased; did not change
D. did not change; increased
Answer: B
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The change in the quantity demanded of gas because of increasing gas prices over the last decade:
A. was more elastic than it has been in the last six months. B. was less elastic than it has been in the last six months. C. has been relatively the same over both time periods. D. has become a non-issue for people now that they are used to higher gas prices.
If the Fed believes the economy is about to fall into recession, it should
A. Use an expansionary monetary policy to lower the interest rate and shift AD to the right B. Use an expansionary fiscal policy to increase the interest rate and shift AD to the right C. Use a contractionary monetary policy to lower the interest rate and shift AD to the right
If real GDP grows at 3% and population grows at 1.2%, then real GDP per capita grows by 4.2%.
a. true b. false
The interest rate that the Fed charges banks to borrow funds from the Fed is the
A. federal funds rate. B. money market rate. C. nominal interest rate. D. discount rate.