General Motors purchased Fischer Auto Body to produce bodies to place on a chassis. This transaction is best described as:
A. contract or vertical integration.
B. spot exchange.
C. vertical integration.
D. contract.
Answer: C
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___________ is the speed and ease of retrieving cash or turning another type of investment into cash
a. Morbidity b. Liquidity c. Asset building d. Lifetime earning credit
Given the information in Figure 14.4, the monopoly wage rate is:
A) W1. B) W2. C) W3. D) W4. E) none of the above
If the world price of coffee is lower than Colombia's domestic price of coffee without trade, then Colombia
a. should import coffee. b. has a comparative advantage in coffee. c. should produce just enough coffee to satisfy domestic demand. d. should produce no coffee domestically.
The payroll tax appears to be a proportional tax. In reality, it is
A. highly progressive. B. actually proportional. C. highly regressive. D. regressive on low-income persons and progressive on high-income persons.