If Slick Shades, a sunglasses manufacturer, purchases several local retail shops to sell their sunglasses, this is an example of ________.
A) divestiture
B) forward integration
C) backward integration
D) outsourcing
B) forward integration
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The International Maritime Bureau said the waters off Somalia are the world's most dangerous, accounting for nearly a third reported pirate attacks worldwide. Suppose all boats are insured to $100,000 and pay a premium of $10,000 each
Suppose 10 out of 100 boats are attacked by pirates and these 10 file claims with their insurance. If the insurance company's only costs are the claims it must pay, has the insurance company earned an economic profit? A) Yes, they earned an economic profit of $90,000. B) No, they broke even. C) No, they sustained an economic loss of $90,000. D) Yes, they earned an economic profit of $1,000,000.
Incentives to provide resources to less qualified individuals are referred to as
a. adverse selection b. forced saving c. moral hazard d. seigniorage e. all of the above
In the 1980s, banks __________ the amount of highly speculative loans they were holding due to __________ deposit rates
A) increased; rising B) increased; falling C) decreasing; rising D) decreased; falling
In 1997, the Justice Department brought a lawsuit against ________ because its growing market power had enabled the company to crush competitors, eliminate competition and innovation.
A. Microsoft B. Walt Disney C. Exxon D. Standard Oil