A corporate merger occurs when:
a. two formerly separate firms combine to become one single firm
b. one firm purchases another firm.
c. two formerly separate firms decide to charge the same price for a product.
d. one firm follows the exact actions of another firm.
a
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Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
Suppose y = Ak1/4, the capital-labor ratio is $40,000 per worker, the level of total factor productivity is 800, 70% of the population works, and there are 70 million workers. Real GDP per capita is
A) $3,500.00. B) $5,543.72. C) $7919.60. D) $9,899.50.
Which of the following people is counted in the labor force?
a. Jerry, who lost his job and last looked for work three months ago. b. Bob, who holds an MBA in management but can only find part-time employment at a fast-food restaurant. c. Phil, who would like to work as a stockbroker but is now a househusband. d. Mickey, who thinks he could easily become a millionaire, despite the opinion of the psychiatrist at the state hospital where he is a patient. e. Donna Jean, age 90, who is enjoying her retirement in Montana.
How does adverse selection affect the insurance market?