If Good Smells, a perfume manufacturer, sells its home fragrance line, this is an example of ________.
A) divestiture
B) forward integration
C) backward integration
D) outsourcing
A) divestiture
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The rash of hurricanes that pelted the Gulf Coast in 2005 resulted in a large decline in gasoline production as many offshore rigs were shut down and many refineries were taken off line while waiting out the hurricane
The decrease in supplies of gasoline led to a run up in prices. Many voters clamored for relief by calling on their congressman and senators to enact temporary price controls. Analyze the impact on the gasoline market that would have transpired had politicians actually headed the calls by voters to impose price controls on gasoline.
Consumers maximize total utility within their budget constraint by
A) spending the same dollar amount for each good. B) buying the cheapest goods they can find. C) buying whatever they like the best. D) buying the goods with the largest marginal utility per dollar spent.
One reason for the projected increase, over the next several decades, in government spending as a percentage of GDP is the projected increase in the size of the elderly population
a. True b. False Indicate whether the statement is true or false
If the Consumer Price Index (CPI) had a value of 128 in 2007, this means that during the period between the base year and 2007:
A. All prices increased by 28 percent. B. All prices increased by an average of 1.28 percent. C. Prices of goods and services that the typical consumer buys increased by an average of 28 percent. D. Prices of goods and services that the typical consumer buys increased by an average of 128 percent.