If a sailboat manufacturer has an agreement with the firm that produces the engines for the sailboats, this is an example of a ________ agreement.
A) vertical B) rightward C) horizontal D) leftward
A) vertical
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Which of the following would have the least amount of influence on a manager's choice of which inputs to employ in a production process?
A) The price of a competitor's output. B) The technology of the production process. C) The marginal productivity of the inputs that can be used in the production process. D) The prices of the inputs that can be used in the production process.
Bureaucratic capture is:
A. a specific avenue through which corruption and rent-seeking can occur. B. when government positions are filled with people who have close ties to the group they are supposed to regulate. C. a source of bias or personal sympathy that interferes with efficiency. D. All of these are true.
The interest rate at which banks borrow excess reserves from each other is known as the
a. prime rate. b. federal funds rate. c. discount rate. d. T-bill rate.
In a typical college town, when students go home for the summer, the dem nd for many items such as pizza and In a typical college town, when students go home for the summer, the demand for many items such as pizza and
a. decreases, which is a shift to the left of the demand curves for these goods. b. decreases, which is a shift to the right of the demand curves for these goods. c. increases, which is a shift to the left of the demand curves for these goods. d. increases, which is a shift to the right of the demand curves for these goods.