A vertical merger involves
a. two companies in the same line of business joining together
b. a buyer's expanding operations forward toward the final customer
c. a buyer's expanding operations backward toward the source of raw material
d. companies in unrelated lines of business coming together
e. b and c
e. b and c
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For all intents and purposes, the Great Depression ended in
A. 1933. B. 1937. C. 1941. D. 1945.
Short-run movements along the Phillips curve
a. remind us of the dangers of confusing various types of unemployment b. may determine long-run shifts of the same curve c. are usually brief and dramatic d. respond to different assumptions about consumer confidence e. lead to long-run movements along the same curve
One of the distinguishing differences between periods of low inflation and periods of high inflation is that
a. low inflation periods are short-lived. b. high inflation periods are short-lived. c. high inflation periods are long-lived. d. low inflation leads to high inflation.
One reason why gold and silver have served as money is that they
A. are easy to produce. B. are easy to duplicate. C. are durable. D. All of these responses are correct.