A merger between a firm extracting petroleum and a firm refining petroleum is a
A) conglomerate merger.
B) diagonal merger.
C) horizontal merger.
D) vertical merger.
D
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Without successful bargaining, economic efficiency will not be achieved when there is a negative externality because
A) too much of the good will be produced. B) too little of the good will be produced. C) economic surplus is being maximized. D) the externality causes consumer surplus to exceed producer surplus.
The account that records changes in the U.S. government's holdings of foreign currency is the
A) capital and financial account. B) official settlements account. C) current account. D) U.S. official reserves account.
Which of the following reasons for making drug sales illegal do economists generally endorse?
A. That addictive drugs do not allow for people to learn from the mistake of taking them. B. The harm that addictive drugs do to innocent victims and that they do not allow for people to learn from the mistake of taking them. C. The harm they do to innocent victims. D. The harm they do to people who knowingly take them.
Whenever the absolute value of the price elasticity of demand is greater than 1, but less than infinite
A) demand is inelastic. B) demand is unit elastic. C) demand is elastic. D) demand is perfectly elastic.