If an automobile manufacturer has an agreement with its tire supplier, this is an example of a ________ agreement.
A) rightward B) vertical C) horizontal D) leftward
B) vertical
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Revisions in the interest rate target
a. occur on a daily basis b. have widespread impacts on the financial markets c. require Congressional approval d. are based solely on data gathered in previous quarters e. are a no-lose opportunity for the Fed
The rule of thumb according to which people are more likely to assume something belongs to a given category if it shares many characteristics with the stereotypical members of that category is the:
A. availability heuristic. B. anchoring heuristic. C. adjustment heuristic. D. representative heuristic.
the largest influence on the Fed's monetary policy actions is
What will be an ideal response?
If a product has zero external costs, then
A) marginal social cost equals marginal private cost. B) marginal social cost is greater than marginal private cost. C) marginal social cost is less than marginal private cost. D) marginal social cost equals zero. E) We need more information to determine the relationship between marginal private cost and marginal social cost.