The Great Depression, in which real GDP fell and unemployment rose, can be characterized as a ________
A) inflationary gap
B) long-run equilibrium
C) recessionary gap
D) full-employment equilibrium
C
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Legal attempts to arrange one's financial decisions so as to pay the least tax possible are known as
a. tax evasion b. logrolling c. tax avoidance d. rent seeking e. underreporting
Which of the following describes a situation in which demand must be elastic?
a. Total revenue increases by 15 percent when the price of corn dogs rises by 15 percent. b. Total revenue increases by less than 15 percent when the price of corn dogs rises by 15 percent. c. Total revenue decreases by more than 15 percent when the price of corn dogs rises by 15 percent. d. Total revenue increases by $15 when the price of corn dogs rises by $15. e. Total revenue increases by more than $15 when the price of corn dogs rises by $15.
Higher prices can discourage use/consumption, which in turn may better allocate scarce resources.
Answer the following statement true (T) or false (F)
Mergers and acquisitions
A) are usually associated with business success. B) are usually successful as management styles usually blend easily. C) are illegal if the firms were competitors. D) can sometimes lead to the loss of a core competency. E) can be successful if they add to the value chain.