If three paper product companies are in an agreement, this is an example of a ________ agreement.
A) leftward B) horizontal C) rightward D) vertical
B) horizontal
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If the unemployment rate increases from 4 percent to 10 percent, then the economy is mostly likely in a(n):
A. expansion. B. boom. C. aggregation. D. recession.
Without government involvement, wages and interest rates are set by _______________.
A. price floors B. supply and demand C. price ceilings D. None of these choices are correct
In about two paragraphs, distinguish between outsourcing and offshoring as they relate to business processes.
What will be an ideal response?
A monopolist earning economic profit in the short run determines that at its present level of output, marginal revenue is $23 and marginal cost is $30. Which of the following should the firm do to increase profit?
A. Raise price and lower output. B. Lower price and lower output. C. Raise price and raise output. D. Lower price and raise output.