By integrating vertically,
a. firms trade with one another through markets
b. firms trade with one another through government intermediation
c. firm and market processes are connected to produce a good or service most efficiently
d. the various procedures involved in producing a good are collected within one firm
e. the various procedures involved in producing a good are parceled out among various contractors
D
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To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
Refer to the table above. If the market for notebooks is perfectly competitive, the equilibrium quantity is:
A) 2 units. B) 3 units. C) 4 units. D) 5 units.
Virtual currency unit 2 (VCU2) is different from VCU1 because:
a. VCU1 can only be purchased with real-word currencies. VCU2 can be purchased with real-world currencies and also earned in the virtual world. b. VCU1 cannot be converted into legal tender; VCU2 can be converted into legal tender. c. VCU1 can only be earned in the virtual world; VCU2 can be earned in the virtual world or purchased with legal tender. d. In terms of spending potential, there is no difference; both VCU1 and VCU2 can be spent in the real world.
The graph below shows the Chamberlin model. At the profit maximizing price and output the firm is making 
A. negative economic profit. B. it is impossible to tell from the information given. C. zero economic profit. D. positive economic profit.