A merger between two firms that produce identical goods would be called
A) a horizontal merger.
B) a vertical merger.
C) a Lerner merger.
D) a duopoly.
A
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According to Say's law, there cannot be overproduction of goods and services because:
a. planned aggregate expenditures sometimes fall short of total output. b. prices and wages are "sticky" or inflexible in the downward direction. c. demand creates its own supply. d. supply creates its own demand.
Net exports will tend to be low when the real exchange rate:
A. is low. B. is high. C. depreciates. D. equals the nominal exchange rate.
When consumption and saving are graphed relative to real GDP, an increase in personal taxes will shift:
A. both the consumption and saving schedules downward. B. both the consumption and saving schedules upward. C. the consumption schedule upward and the saving schedule downward. D. the consumption schedule downward and the saving schedule upward.
Purchasing common stock by writing a check best exemplifies money serving as a:
A. store of value. B. unit of account. C. medium of exchange. D. index of satisfaction.