In the Staples/Office Depot Case, the government:
A. blocked a merger.
B. allowed a merger but regulated the resulting firm.
C. allowed a merger and did not regulate the resulting firm.
D. prosecuted the two firms for collusion.
Answer: A
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Alice is willing to pay $3 for the second slice of pizza she eats. The price she pays is $2. Alice's consumer surplus for this slice of pizza equals
A) $0. B) $1. C) $2. D) $3.
The American Civil War lasted from the spring of 1861 to the spring of 1865. During the war the Confederate government issued substantial amounts of fiat paper currency
What do you think happened to the price level (measured in Confederate dollars) in the Confederate states during the final months of the war?
The old adage, "Don't put all your eggs in one basket," is very similar to a modern bit of advice concerning financial matters:
a. "Buy low-risk bonds.". b. "Use a medium of exchange.". c. "Diversify.". d. "Intermediate.".
Assume that China has a comparative advantage in producing corn and exports corn to Japan. We can conclude that
A) China also has an absolute advantage in producing corn relative to Japan. B) China has a lower opportunity cost of producing corn relative to Japan. C) Japan has an absolute disadvantage in producing corn relative to China. D) Labor costs are higher for corn producers in Japan than in China.