A historical note: The founder of the U.S. Steel Corporation was
a. J. P. Morgan
b. John Rockefeller
c. Thomas Edison
d. Andrew Carnegie
e. Herbert Spencer
D
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The interest rate on interbank loans is called the
A) discount rate. B) federal funds rate. C) repo rate. D) prime rate.
The flaw of the Friedman model of the business cycle is that it
A) assumes away output fluctuations. B) assumes complete wage rigidity. C) assumes unrealistic fooling of workers. D) requires procyclical wage movements and continuous labor market equilibrium.
The quantity of raspberries sold at a local store increases from 100 pints to 1,500 pints when the price is reduced from $4.00 to $1.00. In this situation, the absolute price elasticity of demand for raspberries is approximately
A) 0.69. B) 6.7. C) 1.46. D) 4.3.
Assumptions that underlie the Resource-based View include
a. Resource heterogeneity b. Resource immobility c. Barriers to entry d. Both a and b